Updated Sep 11, 2025
Avenue Equities Acquires Cartwright Business Park In Irvine For $42.35M From Blackstone
17595 Cartwright Road & 2505 Da Vinci
$42,350,000
Units
118,867
Asset Type
Industrial
Closing
Aug 28, 2025
About this deal
AI
Avenue Equities has acquired the industrial property located at 17500-17595 Cartwright Road & 2485-2505 Da Vinci Street in Irvine, comprising a total of 118,867 square feet. The property was purchased for $42.35 million, translating to a price per unit of $356.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $42,350,000
- Units: 118,867
- Buyer: Arya Rashtchi - Avenue Equities
- Seller: Stephen A. Schwarzman - Blackstone
- Brokers: Jeff Chiate, Rick Ellison & Matthew Leupold - Cushman & Wakefield
Cushman & Wakefield's Jeff Chiate and Rick Ellison represented the seller, Blackstone, in facilitating the sale of this fully leased business park.
On the Map
$42,350,000
Industrial
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Players
Irvine Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93