IRVINE, CA—In a further sign that the Orange CountyAirport area is being transformed into a dynamic,high-density urban hub, Lincoln Property Companyhas acquired the 32,560-square-foot MichelsonMarketplace within the Irvine BusinessCenter and plans to renovate the 29-year-old shoppingcenter. This according to officials of Colliers International.
Industry sources not related to the deal tell GlobeSt.com thepurchase price was $13 million.
Colliers' retail investment team members MichelleSchierberl, Donald Ellis, Jereme Snyder and MarkJoens, all of the firm's Irvine office, represented theprivate seller in the transaction. Joens also had previously servedas the center's leasing agent. Lincoln Property Company representeditself in this transaction.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
