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
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