Business Park Transaction is Unique for Industry

GARDEN GROVE, CA-Newport Beach-based investment purchases office park situated on 47-year ground lease for $3.5 million.

By Joel Cone | November 22, 2000 at 01:01 AM

Triumph, a Newport Beach-based investment group, bought the property, located at 13311-13341 Garden Grove Blvd., from RPT Properties, an investment group also based in Newport Beach.

Brokers from Voit Commercial Brokerage's Anaheim Metro office, who represented both parties in the transaction, said that deals of this type with buildings constructed on ground leases are unique in the industry.

NOT FOR REPRINT

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3 Offices are Landing in Special Servicing Despite Strong Occupancy and Rent

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5 Office Distress Finally Starts Knocking on Investors’ Doors

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Middle Market Digest: This Week in the South and Mountain Regions

By Lisa Brown | August 10, 2018

Here's a look at the trends, announcements and deals you may have missed in Texas, New Mexico, Colorado, Oklahoma and Arkansas.

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Late-in-the-Game LEED is No Issue in Rehab

By Lisa Brown | August 09, 2018

The former Corrigan Tower was transformed from a midcentury office building to a 150-unit class-A multifamily building with ground-floor retail and a rooftop pool, now called 1900 Pacific Residences.