Built in 1999, the building stands on a 452,153-sf parcel at26000 Commercecentre Dr. Locally-based construction company ARBInc. occupies the facility, which has a 5 to 1 parking ratio.
The seller, The Stockdale Investment Group, was represented byMark Larson and Gary Stache of CB Richard Ellis' Newport Beachoffice. Larson and Stache also represented the buyer, The EzralowCos.
The sale comes as officials in nearby Irvine are consideringrezoning part of the Irvine Spectrum project for homes instead ofoffices. The project's developer, Irvine Co., has recently run intotrouble leasing up space at the Spectrum. If approved, about 514acres of the massive development could be rezoned to accommodate upto 2,500 homes, as reported earlier this week by Globest.com.
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