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COMMERCIAL REAL ESTATE NEWS
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Lee & Associates brokers $3.82 million deal

The Tustin office property located near John Wayne Airport includes two buildings.

By Caitlin AdamsPublished: April 19, 2011 09:38 AM

Irvine-based real estate broker Lee & Associates has completed a $3.82 million deal for a commercial property in Tustin. The 24,814-square-foot Franklin Court, an industrial space on Franklin Ave., includes two fully leased office buildings.

Brian Garbutt and Phil Cohen, both senior vice presidents in Lee & Associates’ Irvine office, represented the previous owner, H&H Properties. Southwest Commercial’s Dennis DeMeis and Jordan DeMeis represented the buyer, TWC Properties.

“This transaction lends proof that industrial investor market activity in this Orange County locale is heating up once again,” Garbutt said. ““This is one of the first industrial investment sales the airport area had in this price range.”

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