John Harty, senior vice president with the Irvine office of Voit Commercial Brokerage, says that Voit negotiated "a terrific deal" for the building owner, the Piedmont Operating Partnership subsidiary of Piedmont Office Realty Trust. Harty says that the area is a popular place for banks to do business, "which in turn allows property owners to command strong rental rates."
Harty and Michael Coppin of Voit's Irvine office represented Piedmont Operating Partnership, which specializes in the acquisition, ownership, development and property management of class-A office buildings in major US markets. Bret Merz and Jeff Shepard of Cresa Partners represented Alliance Bank.
In the Garden Grove deal, Burke Real Estate acquired a multi-tenant business park called Cedargrove Business Park that is situated on 5.29 acres at 13311 to 13341 Garden Grove Blvd. Senior vice president Mike Hefner of the Anaheim Metro Office of Voit Commercial Brokerage, says that the buyer was attracted to the property's freeway access, visibility from the freeway and ample on-site parking.
Cedargrove Business Park consists of four buildings close proximity to the Block at Orange, with immediate access to the 22, 5 and 57 freeways. Hefner and Paul Caputo of Voit's Anaheim Metro office represented the buyer. John Gates of Central DeAnza LLC represented the seller, Herd Partnership.
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