The three-story office property is called The Theme Building and was 95% leased at the time of the sale, according to Mitchell. He was part of a Voit team, which represented the seller, which also included Al Pekarcik and Dan Vittone. Also representing the seller was Chris Latta of Lee and Associates.The Theme Building consists of small office suites ranging in size from 321 to 6,300 sf. The building, which is close to both the Santa Ana (5) and Newport (55) freeways, features an atrium and individual balconies off each suite.
Seller CT Realty is based in Newport Beach and has completed more than 100 transactions totaling almost $1 billion since its founding in 1994. The company's activities include acquisitions, sales, development and redevelopment of industrial, suburban office, apartment and self-storage properties primarily in the purchase range of $5 million to $75 million.
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