Aliso Viejo-based Apnea Sciences bought an industrial building in Irvine for $2.6 million.
The 5,101 square foot building at 12 Mauchly, Suite A, was sold in mid-December by an unnamed family trust, according to CBRE.
“This was a successful reverse 1031 exchange on a prime industrial building in the heart of the Irvine Spectrum,” said Jeff Carr, a senior vice president at CBRE who said the seller was a repeat client.
The building near the corner of Barranca Parkway and Mauchly includes 3,501 square feet of warehouse space and 1,600 square feet of offices.
CBRE said Apnea Science will occupy the building, which was vacant at the time of sale. The company develops makes and distributes sleep-related products.
Lake Forest building sells for $9 million
Another industrial building, this one at 25742 Atlantic Ocean in Lake Forest, sold Dec. 26 for $9 million, according to CBRE and public documents provided by Property Shark.
The buyer was identified only by its registered limited liability name, 25742 Atlantic Ocean LLC.
“Multiple offers were received on this unique 30-foot clear, freestanding corner industrial building,” said Carr at CBRE.
The 22,612-square-foot building was completed in 2000 and includes 2,500 square feet of office space.
Irvine office building sells for $2.6 million
An office building at 9890 Irvine Center Drive in Irvine recently sold for $2.6 million.
Navigators Advisory Group bought the 4,950 square foot building. CBRE represented the seller, ICD Equities, in the deal.
Carr said the CBRE team got multiple offers and closed escrow just shy of 45 days.
The two-story building includes open and private offices. It was recently renovated, pivoting to a “lofty” creative design with open ceilings, CBRE said.
Cypress West makes first purchase in Tennessee
Cypress West Partners, a healthcare real estate owner and operator in Rancho Santa Margarita, recently acquired a 47,000-square-foot medical office building in Franklin, Tenn.
Terms of the sale were not disclosed.
This firm bought the property in a joint venture with TPG Angelo Gordon, an investing platform. It was the eighth such deal for the partnership and its first acquisition in Tennessee, according to CWP.
The Cool Springs Professional Center was completed in 1996 and includes a host of tenants including Vanderbilt University Rheumatology and Results Physiotherapy, and medical specialties including dermatology, men’s health, oculoplastic surgery, neurology, and plastic surgery.
The joint venture said it’s looking to invest $300 million in medical office properties in the Sunbelt and West Coast markets.
Co-working space opens in Foothill Ranch
SimplerSpace recently opened its fourth co-working office space in the region, this one in Foothill Ranch in Lake Forest.
The space within Foothill Plaza spans 17,000 square feet with 32 office suites, 16 dedicated desks, a training room and conference rooms.
Address: 27422 Portola Parkway, Suite 200.
Other Simpler Space locations are in Chino, Carlsbad and Placentia.
BKM spends $63M on Seattle, Houston properties
BKM Partners in Newport Beach recently made two purchases, once in Seattle for $29 million and another in Houston for $34.1 million.
SeaTac Industrial Park in SeaTac, Washington, for $29 million. The 129,677-square-foot property includes three concrete tilt-up buildings with 18 units with office spaces making up 16% of the footprint.
BKM noted the property “sits within one of the tightest and most sought-after industrial markets in the Seattle metro area.”
The firm said it would spend nearly $2 million in improvements on the property to update deferred maintenance.
In Houston, BKM bought the West Belt Business Park, a 260,887-square-foot industrial park. The deal marked the firm’s first acquisition in Texas.
The property includes five buildings with 30 tenant spaces.
Industry movers and shakers
Anna Britt at CBRE was recently promoted to vice president. Britt is part of the brokerage’s debt and structured finance team. She has been at CBRE for seven years and before that worked for the San Diego Padres and Harrison Street Real Estate Capital in Chicago.
NAIOP SoCal recently named its 2025 executive committee and board of directors. The executive committee includes President Mark Mattis, Avison Young; President-Elect Stephane Wandel, The Orden Co; Vice President Brooke Birtcher Gustafson, Birtcher Development LLC; Treasurer Brian Baker, JP Morgan; Secretary Greg Brown, JLL; Programs and Education Liaison Fran Inman, Majestic Realty Co.; and Past President Eric Paulsen, Kidder Mathews. The board of directors appointees included nearly 30 industry names from the region’s top brokerages and real estate firms.
The real estate roundup is compiled from news releases and written by Business Editor Samantha Gowen. Submit items and high-resolution photos via email to sgowen@scng.com . Please allow at least a week for publication. All items are subject to editing for clarity and length.
