Updated Dec 4, 2024
CBRE Brokers Sell Irvine Office Building For $4.5M
17631 Fitch
$4,500,000
$496/SF
Building Size
9,073 SF
Asset Type
Office
Closing
Nov 6, 2023
About this deal
AI
A local law firm purchased a 9,073-square-foot office building located at 17631 Fitch in Irvine for $4.5 million. The transaction was facilitated by CBRE's Investment Properties team. The property is situated in the desirable Greater Airport Area, which offers growth potential and convenient access to major highways.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $4,500,000
- Square Footage: 9,073
- Price per Square Foot: $496
- Address: 17631 Fitch, Irvine
- Market: Irvine
Anthony DeLorenzo, Bryan Johnson, Nick Williams, and Ross Bourne from CBRE served as the brokers representing the law firm in this transaction.
Players
Irvine Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93