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August 9, 2020
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ORANGE COUNTY NEWS
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Newport Beach Office Asset Traded for Over $10 Mil

5/14/18

BLD Ventures LLC purchased a 25.9k sf office building in Newport Beach for $10.5 mil ($405/sf). The building is located at 20377 SW Acacia St, southwest of the 73 Fwy off Irvine Ave.

Brian Garbutt of Lee & Associates Irvine represented the buyer, the Wang Family Trust, and the seller in the deal.

“The property entered escrow within 24 hours of being on market at 96% of asking price with multiple offers on the table,” said Garbutt, noting that the seller signed a 10-year lease at close of escrow.





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