IRVINE, CA-Transpacific Development Co. has put up its 270,000 square-foot office complex Irvine Spectrum at Glen Bell Way in Irvine for sale, which it bought for $73 million in June 2009. CB Richard Ellis Group Inc. is representing the buyer in the sale and the listing price was not revealed. The property is being marketed by CBRE’s Kevin Shannon, Bob Smith, Todd Tydlaska, Paul Jones, Ken White, and Karen Scholte―the same team that sold the building from Ford Motor Co. to TDC. CBRE’s Chapin Hunt is handling financing for the property sale.

The two-tower property could fetch $350 per square foot, which would translate to about $95 million. Taco Bell and Ford Motor Co. are the tenants of the complex. For the full story, go to Orange County Business Journal. News Hub is your link to relevant real estate and business stories from other local, regional and national publications.

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