X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

IRVINE, CA-Legacy Partners Commercial has acquired the 206,451-sf Alton Corporate Plaza office project and the 74,094-sf Von Karman Corporate Plaza office development from Adler Realty Investments of Woodland Hills for $46 million, according to Lee & Associates.

Alton Corporate Plaza, a 206,451-sf, two-building project, is located at 1733 and 1833 Alton Parkway and is 100% leased to Encore Credit Corp. Von Karman Corporate Plaza, a 74,094-sf building, is located at 18551 Von Karman Ave. and at the time of the sale was 67% leased to three tenants, including LandAmerica Title, Reynolds and Reynolds and RGL Insurance. Since the sale, telecommunications equipment vendor Aktino has signed a lease for 14,500 sf of the building in a transaction brokered by Lee & Associates, bringing the building occupancy up to 87%.The 1733 Alton building was built in 1984 and is a two-story, concrete tilt-up and steel structure. The 1833 Alton building was built in 1987 and is a two-story steel frame structure. The Von Karman property is a single, two-story building of steel and wood that was completed in 1985.Mike Meisenbach, Brian Garbutt and Matt Moore of the Newport Beach office of Lee & Associates brokered the sale on behalf of Adler, with Legacy representing itself.

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

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.