Avenue Equities Acquires Cartwright Business Park In Irvine For $42.35M From Blackstone

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.