The two-story office building, which is located at 14511 Myford Rd., was vacant at the time of sale. The property was sold by Dallas-based Texas Instruments.
Bryon Ward, senior vice president with Grubb & Ellis' Newport Beach office, represented the buyer in the transaction. Mike Smith of the Staubach Co. represented the seller.
Bryon Ward was also responsible for closing the Sept. 2001 Irvine¹s Cowan building, which had been acquired by a locally-based investment group for $10.1 million.
The property, encompassing 61,366 sf, stands at 17771-17781 Cowan Ave. It was 100% leased at the time of sale.
The property was sold by Newport Beach-based Layton-Belling & Associates and its partner, AEW Capital Management. They were also represented by Kevin Shannon and Jack McNutt of Grubb & Ellis.
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