Ledra Brands Acquires Property From University Medical In Irvine For $16.6 Million
88 Maxwell, Irvine, CA, 92618
$16,600,000
Building Size
—
Asset Type
Industrial
Closing
Nov 20, 2023
AI
Ledra Brands has acquired an industrial property located at 88 Maxwell, Irvine, CA, 92618, for $16.6 million. The property encompasses 55,285 square feet of building space and is situated on 3.7 acres within the Irvine Spectrum submarket of Orange County, California. The asset includes 14,684 square feet of office space and features four dock-high loading doors, 30-foot clear heights, and 125 parking spaces.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $16,600,000.00
- Address: 88 Maxwell, Irvine, CA, 92618
- Market: Irvine
- Seller: University Medical
- Buyer: Ledra Brands
- Seller's Representative: Gregg Haly - CBRE
- Buyer's Representatives: Ross Fippinger and Ross Bourne - CBRE
The transaction involved several key players, with Gregg Haly of CBRE representing the seller, University Medical. The buyer, Ledra Brands, was represented by Ross Fippinger and Ross Bourne, also from CBRE, facilitating the successful completion of the deal.
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
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93