Torrance, CA – January 27, 2011 – (RealEstateRama) — The Irvine office of Lee & Associates, the fourth largest full-service commercial brokerage company in the nation, has completed the $6.3 million sale of the Teslaco Building, a 35,000-square-foot office building located at 35 Tesla in Irvine, Calif., to Owen Commercial. The building was a foreclosure sale by GE Capital and was never put on the market. Lee & Associates sold it as an off-market investment.
Brian Garbutt, senior vice president, and Andrew Robben, senior associate, of Lee & Associates Irvine, Inc., represented both parties in the transaction.
About Lee & Associates
Celebrating more than 32 years of leadership excellence in commercial real estate, Lee & Associates is one of the largest national commercial real estate providers with regional expertise. As a group of independently owned and operated companies, Lee & Associates currently has 41 offices located in California, Georgia, Arizona, Idaho, Indiana, Illinois, Michigan, Missouri, Nevada, New Jersey, Texas and Wisconsin. Lee & Associates’ clients enjoy a comprehensive range of specialized commercial real estate services including: industrial, office, multifamily and retail property sales and leasing; real estate investment consulting, property acquisition and disposition; tenant representation and relocation, land assemblage, site selection, mixed-use and urban in-fill, property and portfolio evaluation and market research. Additional information is available at www.lee-associates.com.