The property was part of a four-building portfolio that CT acquired from real estate investment firm Newport Federal of Newport Beach two years ago, according to Alan Pekarcik, Dan Vittone and Rob Mitchell of Voit Commercial Brokerage. The Voit brokers, along with Chris Latta of Lee & Associates, represented the seller, with the Orange County-based buyers representing themselves.
The two-story, class B office building was 84% leased to small local companies at the time of sale. It was the second property sold from the portfolio since September 2002, according to Vittone. The first to go was the Theme Building at 520 N. Golden Circle. The Voit brokers say CT Realty also is marketing two other office buildings in the portfolio, the Arbors and Boardwalk located at 2101-2103 E. 4th St. and 550 N. Parkcenter Drive, respectively. Voit and Lee are the listing agents on those buildings.
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