The former GDC property is at 2461-2495 E. Orangethorpe in Fullerton and was sold for $6.3 million. Voit had been working with GDC Cedarwoods since the firm acquired the building three years ago to increase occupancy and stabilize the asset, says Mike Hefner of Voit Commercial Brokerage's Anaheim Metro office. Hefner, along with Jack Faris and Barry Walshe of Voit's Irvine office, represented the seller.
According to Hefner, the investment firm renovated the property immediately after the acquisition in 2000 and embarked on an aggressive leasing program that raised the occupancy rate to 98%.
Alan Pekarcik and Dan Vittone of Voit's Irvine office also represented the seller in the transaction. Kevin Leonard of Healthwest Advisors represented the buyer, Hindenberg Trust.
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