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12/21/11
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An affiliate of AEW Capital Management of Boston has purchased the 314k sf office tower at 2050 Main St in Irvine for about $108.5 mil ($345/sf). It was sold by a partnership of Greenlaw Partners, out of Newport Beach, New York-based Westbrook Partners and Walton Street Capital, who bought it in 2009 for around $56 mil.
The property was originally built by Opus West Corp, but had gone back to the lenders after Opus went bankrupt. Located in the Irvine Concourse, the 13-story tower stands at 80% leased. Current tenants include: Sunwest Bank; Fisher & Phillips LLP; and Luce, Forward, Hamilton & Scripps LLP.
In a recent office lease from Irvine, Empire Academy signed a 10-year, $1.4 mil deal for 12k sf ($0.97/sf/mo) of space at 1544 E. Warner Ave, just off Jamboree Rd. Empire Academy is a make-up artistry school that is relocating its headquarters from Costa Mesa and will fully occupy the newly leased building.
Michael Hartel and Kevin Turner of Voit Real Estate Services’ Irvine office represented the landlord, REEF Brookhollow Inc. Ron Semon of Paradise Commercial represented Empire Academy. According to its website, Empire Academy is a school for individuals interested in pursuing a career as a professional makeup artist. The academy offers courses ranging from introductory level through advanced artistry for television, video, film, print, runway, bridal and special effects.
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