New Office Building Commands $5.7M

By Bob Howard
Last updated: September 11, 2003
www.globest.com

NEWPORT BEACH, CA-Private investor and owner-user Mickey Motors LLC of Long Beach has purchased a newly completed office building at 20377 Acacia St. for $5.7 million, according to Charles Dunn Co.

Suzanne Richie and Steve Ehrich of Charles Dunn Co.'s Newport Beach office represented the buyer of the 25,240-sf building, with the sellers, Newport Beach-based Steadfast Properties and Newport Mesa Business Centre LLC, represented by Gil Marrero of Voit Commercial Brokerage. The building will serve as a regional office for Mickey Motors, which is expected to move into the two-story facility this month. The property is one of numerous commercial holdings developed and/or owned by Steadfast, which acquires, develop and manages real estate within the continental United States, Hawaii and Mexico. The company’s operations include commercial and multifamily divisions that, in addition to owning and developing office, industrial, retail and apartment properties, provide a range of services including property management and construction.

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