IRVINE, Calif.—April 20, 2017—16800 Aston part of The Alton Corporate Plaza in Irvine, a 48,951-square-foot office building, was purchased for an undisclosed amount.
Senior Vice President Brian Garbutt and Associate Sammy Cemo of Lee & Associates Irvine represented the buyer, 16800 Aston Irvine, LLC. The seller was represented by Ryan Gallagher and Derreck Barker of HFF.
16800 Aston was built in 1985 and is currently 65% occupied. The buyer was attracted to the purchase due to the vacancy and the ability to add tremendous value in stabilizing the asset by adding a creative office component to some of the vacant space.