Mike Austin of Sperry Van Ness in Irvine represented buyer and seller, 2900 S. Harbor LLC. Austin says the Staples building is close to the 405 Freeway in the growing Orange County South Coast Metro submarket.
The office building is 100% leased to key tenants that include the regional headquarters of the Staples office supply chain, the Orange County Head Start Program and Gateway Learning Corp. The building was constructed in the 1980s and owned by the seller for 10 years.
Austin notes that the seller helped to facilitate the deal by arranging for long-term financing at an attractive interest rate to provide "an excellent return on investment" for the buyer.
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