Doug Mathews and Gary Allen of the Newport Beach office of Grubb& Ellis represented building seller Columbia Partners of LagunaNiguel, which was also the developer of the property, both in thesale and in the leasing of the 10,000 sf during escrow. Mathews andAllen also are the listing agents for the 2,082 sf that remainsvacant in the building.

Mathews and Allen tell GlobeSt.com that the property attractedmultiple offers from prospective buyers who included a number ofowner-users as well as a number of investors. The buyer was 2080Channing LLC, a La Jolla-based investment group that representeditself in the transaction.

The prospective buyers included a variety of types of bidders,including 1031 exchange buyers, private investment groups andhigh-net-worth individuals. The new owner plans to renovate theproperty, which was built in 2000, and secure a tenant for thespace that is available.