Socci represented the seller, Seven Investments, with the buyer represented by Jeff Rinkov and Peter Bacci of Lee & Associates. Crescent Healthcare, which has a two-year lease on the building, has occupied it for approximately seven years. The tenant provides home infusion services to patients with chronic disorders.
The Crescent Healthcare building was one of six office properties that sold recently for an aggregate of more than $25 million in Orange County, where demand has been driving up rental rates and sales prices steadily for several years now.
In a $6.7 million deal, Grubb & Ellis reports that the Burke Real Estate Group of Santa Ana bought the Orangewood Office Building, a 37,842-sf property in Garden Grove, from Orangewood Office Partners of Garden Grove.
The two-story, steel frame structure was 95% leased at the time of sale. It was built in 1981 and renovated in 1990. The buyer and the seller were represnted by Jeff Hanson of the Grubb & Ellis Institutional Investment Group and Ryan Gallagher, both with the Newport Beach office of Grubb & Ellis.
The other four deals, totaling $13.7 million, were a series of transactions brokered by Voit. They ranged from the $3.9 million sale of a 26,088-sf building at 1954 Placentia Ave. in Costa Mesa to the $3.1 million sale of a 31,029-sf property at 2850 Saturn in Brea.The two others were buildings of 12,738-sf and nearly 13,000 sf that sold for $3.4 million and $3.3 million respectively.
The Voit brokers on the deals included Alan Pekarcik, Dan Vittone, Sam Olmstead and Gil Marrero of the company's Irvine office; Louis Tomaselli, Mitch Zehner and Mike Boomer of Voit's Anaheim Metro office.
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