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88 Maxwell, Irvine, CA, 92618

Ledra Brands Acquires Property From University Medical In Irvine For $16.6 Million
SOLDIndustrial

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:

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

Ross Bourne

CBRE

Broker

$85.1M

vol

9 deals

Broker

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