Wilshire Capital Partners Sells Vacant Irvine Office Building For $16.9M

Wilshire Capital Partners has sold a vacant, Class A office building in Irvine's Business District for $16.9 million to an owner-user. The property, located at 17900 Von Karman Avenue, spans 70,964 square feet. CBRE represented the seller, and the transaction involved brokers Anthony DeLorenzo, Gary Stache, Bryan Johnson, David Dowd, and Jennifer Whittington from CBRE.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $16,900,000
• Address: 17900 Von Karman Avenue
• Market: Irvine

The sale of this vacant office building marks an important transaction in Irvine's Business District. The building's new owner plans to undergo renovations before occupying the space. With the assistance of CBRE and its brokers, the seller, Wilshire Capital Partners, successfully closed the deal, showcasing the demand for prime office assets in the area.