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Irvine Industrial Property Fetches $27.5 Mil

10/01/18

Von Karman Industrial Park, a 104.7k sf industrial facility in Irvine, was acquired by a private investor for $27.45 mil ($262/sf).

Built in 1979, Von Karman Industrial Park was renovated in 2012 and has a current occupancy rate of 100%. It is located at 16902 and 16912 Von Karman Ave, east of the 55 Fwy between I-5 and I-405.

Ryan Swanson, Kurt Bruggeman and Philip Cohen of the Irvine office of Lee & Associates represented the seller in the transaction. The buyer represented themselves.

“When the bidding was opened, we received more than 20 offers and 150 confidentiality agreements that were signed,” said Swanson, noting that the deal had a cap rate of 4.75%.






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