X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

IRVINE, CA-The ink is drying on a $1.3-million deal, which involves the acquisition of an Irvine Spectrum R&D building.

The facility, which stands at 18 Goddard, has been purchased by Sea Ridge Community Church. Encompassing 8,482 sf, the building will be used to house the organization’s corporate offices. Services will also be held at the facility, which is located in the Goddard Business Park.

Sea Ridge Community Church was represented by David Bolt of CB Richard Ellis’ Newport Beach office. Mark Jerue of Lee & Associates’ Irvine Spectrum office acted on behalf of the seller, Millennium Technologies.

Irvine Spectrum’s industrial sector has experienced a positive net absorption of 624,406 sf in the first nine months of 2001. The fourth quarter commenced with more than 192,281 sf of industrial space under construction, as the overall vacancy rate stood at 9.7%. Vacancy levels here have been fairly high, considering that the county’s overall vacancy rate was 5.7% at the start of the fourth quarter.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.