(To read more on the industrial market and the debtand equity markets, click here.)
IRVINE, CA-Guthrie Development Co. of Costa Mesa has landed$14.4 million in financing from Wrightwood Capital for therecapitalization and conversion of a 122,125-sf industrial buildinginto condominiums for sale. The property that will be converted isan eight-unit building at 2152 Alton Parkway that was built in1973.
The new Guthrie project, called the Alton Business Center, lieswithin the Irvine Business Complex near the former Tustin MarineCorp Air Station. Developers in Orange County have converted anumber of industrial buildings into condominiums for sale and havetypically sold all of the units, a track record that Wrightwoodcites as one of the factors that work in favor of the newproject.
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