Irvine, CA –– Senior Vice President Steven Ehrich of NAI Capital Commercial’s Investment Services Group in the Orange County office is pleased to announce the successful investment sale of Lakeview Professional Plaza, a multi-tenant office property in Yorba Linda, California. Steven represented both the buyer and seller in the transaction, with the property being sold to a California-based private investor. The sale price totaled $3,500,000 or $298 per square foot at a 5.43% cap rate.
Lakeview Professional Plaza: 4848 Lakeview Ave, built in 1975, is a two-story, 11,761 square foot, multi tenant office building situated on a 38,333 square foot lot in North Orange. The property features prominent street signage and is in close proximity to numerous amenities, including food, shopping, banks, the Yorba Linda Cultural Arts Center, and the Old Towne Historical District. The office is currently leased to an insurance company and a law firm on long-term leases and is well-maintained.
According to Steven, “This was a 100% leased investment sale. Contrary to the negative headlines about office space, the suburban office market with local users closer to home is holding up quite well and outperforming the Class A product.” Steven added, “Properties like the Lakeview Professional Plaza, that are well-maintained and located in solid areas like Yorba Linda, sell at a premium as they are rare to come by.”
About NAI Capital Commercial
NAI Capital Commercial is the largest agent and employee-owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, a leading global commercial real estate services firm with more than 300 brokerage offices and over 5,100 professionals spanning the globe, NAI Capital Commercial provides a complete range of transaction, valuation, investment, property management and consulting services. By leveraging our local expertise with our global reach, NAI Capital Commercial offers innovative, customized solutions and seamless service to owners, tenants, investors, and developers throughout Southern California. Our clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital Commercial we work together putting our clients first.
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 300 offices strategically located throughout North America,
Latin America, Europe, Africa and Asia Pacific, with over 5,100 local market professionals, managing in excess of 1.1 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.
