The facility is located at 2411 Winston Rd. The buyer, Lagen Walter Family Trust, will be the sole occupant in the building.
Lagen Walter Family Trust was represented by Mitch Zehner of Voit Commercial Brokerage's Anaheim office. The seller, Seville Capital LLC, was represented by Rany Coe of Colliers Seeley International.
The county has seen an increased number of office transactions in recent weeks, but some local real estate experts still predict troubling times ahead for the office market. A recent report by Grubb & Ellis says the office market's vacancy rate will continue to rise as the year progresses. In Orange County, nearly 2.9 million sf of office space is under construction, yet the county experienced a negative net absorption of 278,000 sf in the first quarter, the report says.
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