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IRVINE, CA-Citing what is described as high demand and low supply, Guthrie Development Co. of Laguna Hills, Calif. bought a 21,154-sf building in the Irvine Business Complex for $2 million and plans to market the property as two separate buildings targeted toward owner-user buyers.

John Rothwell of Daum Commercial Real Estate Services in Newport Beach, Calif., explains that demand for small owner-user buildings is high and supply is low in Orange County, so Guthrie plans to create two separate buildings and separate parcels for the readily divisible building. Rothwell and Jeff Lauer, also in Daum’s Newport Beach office, represented sellers Jack and Lisa Hamm of Irvine, while Rick Hill of HillCo Commercial represented the Guthrie entity that acquired the property, GDC Kettering LLC.

Rothwell says the new owner plans to extensively rehabilitate the buildings, record a new map, and provide two buildings for individual sale. The highly improved building features 16,500 sf of two-story office space and parking of three per 1,000 sf. Rothwell said it is suitable for light assembly and distribution uses.

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