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IRVINE, CALIF. — Stivers Investment Co. has sold a two-story flex office building in Irvine for $11.8 million. The building is located at 8 Hughes.
Built in 2000 in the Irvine Spectrum, it is situated on 2.3 acres with four spaces parking per 1,000 square feet. The capacity can be divided into a multitenant building. The building was 30 percent occupied at the time of sale.
The new owner plans to occupy the vacant portion of the building, collect income from the existing lease and hold the asset long-term. J.R. Williamson with the Orange County office Investment Services Group of NAI Capital Commercial represented the seller in this transaction.