California + Orange County + Office | February 24, 2021

Low-Rise Office Sales Are Humming in Irvine

There have been eight low-rise office building sales of more than $3.5 million in the Airport Area and Irvine Spectrum since March 2020. The latest is MacArthur Corporate Center, a 62-887-square-foot office building located at 17661-17671 Cowan, which recently sold for $14.6 million.

The seller, GRT Irv LLC, was represented by Brian Garbutt of Lee & Associates Newport Beach. The buyer, Hanyon Holdings LLC was represented by John Manion of NAI Capital.

Garbutt’s team at Lee & Associates Newport Beach has brokered 37 percent of all the low-rise office buildings in the $3.5 million-plus price range that have sold since the beginning of the pandemic.

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.