COMMERCIAL REAL ESTATE
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Newport Beach’s Voit sees uptick in tenant transactions
The real estate brokerage firm closes deals for total consideration of more than $7 million.
By Susan BelknappPublished: November 03, 2009 10:37 AM
Newport Beach-based Voit Real Estate Services’ Commercial Brokerage division, a member of CORFAC International, announced Tuesday that it directed four transactions in Southern California for a total consideration of more than $7 million during September and October. This included the largest South Orange County office deal in 2009.
“The tenant market is picking up, as companies look towards experienced brokerage firms to assist them in lowering their current rents or relocating to newer locations with added concessions,” says Kurt Strasmann, managing director of Voit Real Estate Services’ Anaheim Metro office.
Details of the four transactions are as follows:
Transaction No. 1:
Ossur North America, a prosthetic limb manufacturing company, has signed a six-year lease on a 37,144 square-foot office building in Foothill Ranch for approximately $5 million. The property is located at 27051 Towne Center Drive in Foothill Ranch.
This building will serve as Ossur North America’s headquarters as it consolidates three office locations from Aliso Viejo and Camarillo in order to be in closer proximity to its Foothill Ranch-based manufacturing facility.
“Voit was able to assist the lessee in by evaluating multiple strategic solutions including expanding at its existing location or relocating its entire manufacturing operations,” says Mike Hefner of Voit Real Estate Services’ Anaheim Metro office. “This was one of the largest South Orange County office transactions of the year.”
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“The tenant market is picking up, as companies look towards experienced brokerage firms to assist them in lowering their current rents or relocating to newer locations with added concessions,” says Kurt Strasmann, managing director of Voit Real Estate Services’ Anaheim Metro office. Details of the four transactions are as follows: Transaction No. 1: Ossur North America, a prosthetic limb manufacturing company, has signed a six-year lease on a 37,144 square-foot office building in Foothill Ranch for approximately $5 million. The property is located at 27051 Towne Center Drive in Foothill Ranch. This building will serve as Ossur North America’s headquarters as it consolidates three office locations from Aliso Viejo and Camarillo in order to be in closer proximity to its Foothill Ranch-based manufacturing facility. “Voit was able to assist the lessee in by evaluating multiple strategic solutions including expanding at its existing location or relocating its entire manufacturing operations,” says Mike Hefner of Voit Real Estate Services’ Anaheim Metro office. “This was one of the largest South Orange County office transactions of the year.” NEXT PAGE >> Related headlines Torelli Realty, Ingram Co. team up Newport Beach's TRI Pointe Homes launches Four Irvine homes among top 10 most-searched in O.C. Irvine's California Coastal Communities files for bankruptcy Irvine’s RealtyTrac: foreclosures down; hot spots emerge |
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