Located at 19781 Pauling, the recently completed building hasbeen acquired for $1.9 million by Dunning Properties. The facilitywill be occupied by OCT Group, an Irvine-based marketingcompany.
Dunning Properties was represented by Tony Gleason of VoitCommercial Brokerage's Irvine office. The seller, Severson-Smith,was represented by CB Richard Ellis.
Lake Forest has seen a flurry of activity lately, including SheaProperties'announcement that a 380-acre mixed-use project will bebuilt here. The development, known as AXIS, will include R&Dand industrial space and will cost an estimated $450 million. Sitegrading has already begun on the project's 84-acre first phase,with completion slated for the first quarter of 2002.
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