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CBRE Brokers Sell Irvine Office Building For $4.5M

Property Image
SOLD
$4,500,000
Nick Williams
Bryan Johnson
Anthony DeLorenzo
+ 1

California

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Office9,073 SF
Sold 11/06/2023
the dealplayerscompscontact
Property Image
SOLD

CBRE Brokers Sell Irvine Office Building For $4.5M

17631 Fitch

See Similar Deals
Office9,073 SF
Sold 11/06/2023
Nick Williams
Bryan Johnson
Anthony DeLorenzo
+ 1
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$496
Total Square Footage:9,073 SF
Transaction Type:Sale

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

Bryan Johnson
CBRE
Bryan Johnson
49 deals$763.9M volume(949) 809-3762
BROKER
Anthony DeLorenzo
CBRE
Anthony DeLorenzo
117 deals$2B volume
BROKER
Nick Williams
CBRE
Nick Williams
17 deals$217.3M volume
BROKER
Ross Bourne
CBRE
Ross Bourne
9 deals$85.1M volume(949) 929-2784
BROKER

Details

SOLD
IMAGE: Anthony DeLorenzo, Bryan Johnson, Nick Williams & Ross Bourne DATE: 11/06/2023 ADDRESS: 17631 Fitch MARKET: Irvine ASSET TYPE: Office BROKERS: Anthony DeLorenzo (@AnthonyDelorenzo), Bryan Johnson (@CallMeBryanJ), Nick Williams & Ross Bourne - CBRE (@CBRE) SALE PRICE: $4,500,000 SF: 9,073 ~ PPSF: $496 NOTE: A local law firm bought a 9,073-square-foot office building in Irvine for $4.5 million through CBRE's Investment Properties team. The property is in the desirable Greater Airport Area, offering growth potential and easy access to major highways.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$240,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,987.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,332.30
Annual Debt Service$255,987.55