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

Sea Ridge Community Church was represented by David Bolt of CBRichard 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 positivenet absorption of 624,406 sf in the first nine months of 2001. Thefourth quarter commenced with more than 192,281 sf of industrialspace under construction, as the overall vacancy rate stood at9.7%. Vacancy levels here have been fairly high, considering thatthe county's overall vacancy rate was 5.7% at the start of thefourth quarter.