Arya Rashtchi Of Avenue Equities Acquires Industrial Facility From Fletcher Jones Motor Cars For $17M

The industrial facility located at 17352 Armstrong Avenue in Irvine encompasses a total area of 123,748 square feet. This property was sold for an amount of $17 million, which translates to approximately $137.38 per square foot. The asset is situated in a market known for its developing industrial landscape and investor interest.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $17,000,000
• Buyer: Arya Rashtchi - Avenue Equities
• Seller: Fletcher Jones Motor Cars
• Sale Price per Square Foot: $137.38
• Square Footage: 123,748
• Address: 17352 Armstrong Avenue
• Market: Irvine

Avenue Equities, represented by Arya Rashtchi, has acquired this property from Fletcher Jones Motor Cars. The transaction underscores a strategic investment approach targeting value-add opportunities within high-barrier submarkets in the context of rising vacancy rates and negative annual absorption trends in the area.