IRVINE, CA-Real Estate Partners Inc. of Newport Beach has sold its new headquarters building for $6.1 million, and a Huntington Beach buyer has acquired a 100% leased property for $4.2 million in a separate deal, according to executives from Real Estate Partners and Resource Commercial Real Estate.Real Estate Partners, an investment and management services company, sold its 24,000-sf headquarters at 2569 McCabe Way to BluRock Investments LLC of Newport Beach. In the other sale, Huntington Beach-based Marshall Reddick Realty Inc. purchased a 21,480-sf office building at 17100 Gillette from the Chester Family trust located of Irvine.Thomas Thompson, president of Real Estate Partners, notes that the purchase price of approximately $251 per sf in the 2569 McCabe deal represents a 31% increase over the neighborhood’s previously recorded high of $192 per sf for an office building. Real Estate Partners bought the property for $3.8 million in March to house its expanding operations. The company immediately marketed the building as a leased investment property, while undertaking approximately $1 million in renovations. Real Estate Partners was represented internally in the sale by Thompson and Dawson Davenport, with BluRock Investments represented by David Delancy of Corona Del Mar. Terms of the sale include a five-year master lease agreement between the new owners and Real Estate Partners. As of July 1, Real Estate Partners and its associated operations occupy the second floor of the two-story building. ACN Inc., a direct-sales telecommunications firm, has signed a sublease to occupy 6,645 sf downstairs.In the 17100 Gillette transaction, Cory Napora of Resource Commercial Real Estate Inc. and Ray McFarland of Business Realty Advisors represented the seller, with the buyer represented by Patrick Cordova of Cordova Realty. The buyer will occupy approximately 10,000 sf, bringing the building to 100% occupied. The Gillette building was attractive to the buyer because of its existing rental stream and the space available to house Marshall Reddick’s business operations, notes Napora.

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