July 16, 2019— Lee & Associates, a nationwide leader in commercial real estate services, brokered the sale-leaseback of a 23,021-square-foot office building located at 2569 McCabe Way in Irvine, California. Brian Garbutt and Allen Basso of Lee & Associates represented the seller, Bernards Irvine, LLC, and Mark Jerue and Craig Fitterer represented the buyer, 32 Rancho Circle, LLC.
The two-story building is comprised of 4 units, and the buyer will occupy approximately 8,900-square-feet on the second floor. The seller currently occupies the first floor of the building and will remain as a tenant.
“This was a great opportunity for a user to purchase a building that had in-place rents to help offset their occupancy costs,” says Garbutt.