Alan Borstein Of Borstein Enterprises Acquires Barranca Business Park In Irvine For $94M

The asset involved in this transaction is a 16.2-acre industrial property located at 15281-15339 Barranca Parkway in Irvine, CA. The property features 13 buildings, encompassing a total square footage of 281,999. It was sold for a transaction amount of $94 million, translating to a price per square foot of $333.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $94,000,000
• Square Footage: 281,999
• Address: 15281-15339 Barranca Parkway
• Market: Irvine, CA
• Acres: 16.2
• Buyer: Alan Borstein - Borstein Enterprises
• Seller: Timothy J. Gerend - Northwestern Mutual
• Representative: Cushman & Wakefield represented both parties
• Occupancy Rate: 87%

This sale highlights the involvement of key figures in the transaction, including Alan Borstein who acquired the property on behalf of Borstein Enterprises, and Timothy J. Gerend representing Northwestern Mutual as the seller. Cushman & Wakefield facilitated the deal, indicating a well-coordinated representation for both the buyer and seller in this industrial property transaction.