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8710 Research Dr, Irvine, C...

Alere Property Group Acquires Office Building In Irvine From Private Investor
SOLDOffice

Alere Property Group Acquires Office Building In Irvine From Private Investor

8710 Research Dr, Irvine, CA, 92618

Building Size

35,475 SF

Asset Type

Office

Closing

Nov 22, 2023

AI

The industrial property located at 8710-8750 Research Drive in Irvine has been sold to Alere Property Group by a private investor. The 35,475-square-foot Class A warehouse building, constructed in 2005, features 20-foot clear heights, two dock-high loading positions, three ground-level doors, and 12,000 square feet of office space. The building is divisible to accommodate multiple tenants. Currently, the property is occupied by a manufacturer of technological equipment for industrial machinery. Todd Marten and Trent Walker of Voit Real Estate Services represented both the seller and the buyer in this transaction.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Undisclosed
  • Address: 8710 Research Dr, Irvine, CA, 92618
  • Market: Irvine
  • Square Footage: 35,475 SF
  • Buyer: Alere Property Group
  • Seller: Private Investor
  • Buyer's Rep: Todd Marten (Voit Real Estate Services), Trent Walker (Voit Real Estate Services)

The sale transaction was facilitated by Todd Marten and Trent Walker of Voit Real Estate Services, who acted as the representatives for both the buyer, Alere Property Group, and the seller, a private investor. The involvement of these professionals ensured a smooth and successful transfer of ownership for the industrial property in Irvine.

Players

Todd Marten

Voit Real Estate Services

Broker

1 deal

Broker
AG
Alere Property GroupBuyer

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93