Jeff Demorest in Daum's Newport Beach office says the facility formerly served as the headquarters of Smart Home. Demorest, who represented the seller, says Biomedical Devices bought the property from Daimler LLC, an Orange County investor, for $4.6 million. Daimler acquired the building from Tokai Shipping four years ago as an investment.
Biomedical has already occupied its new headquarters, which is a single-story, concrete tilt-up building that includes about 50% office space. The firm joins a large base of biomedical firms already located in Irvine and South Orange County, where they represent one of the county's largest industry clusters and largest employers. Brokers say the biomed companies are attracted both by the presence of other similar firms as well as the biomedical research programs and facilities at the nearby University of California at Irvine.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
