IRVINE, CALIF. – PM Realty Group (PMRG), a nationally recognized, full-service commercial real estate firm, announced today that it has completed the sale of a 15,775-square-foot industrial building located at 16631 Millikan Avenue in Irvine, Calif. to a private investor for $3.36 million. The buyer will be using the building for its corporate headquarters.
PMRG Senior Vice President Oliver Fleener represented the seller, Marcial R. Mancillas Children's Trust. The buyer was represented by John Manion at NAI Capital.
"The demand for this building was unbelievable," said Fleener. "There are very few options available for users to purchase this size range and property type. We definitely set a new high watermark for the area, given the condition, size and location of the building."
Built in 1976, 16631 Millikan is a warehouse located in Orange County's Airport Area submarket. It features 14 foot clear height, two loading doors and surface parking. The property was recently renovated.
About PM Realty Group
Headquartered in Houston, Texas, PM Realty Group (PMRG) is one of the nation’s leading real estate companies focusing on comprehensive property services, development and acquisitions. With a strategic presence in 30 markets, PMRG provides the highest quality services to its clients and investors. PMRG’s clients and investors include large financial institutions, advisors and high net worth individuals. By capitalizing on the team’s experience and expertise, PMRG has the ability to undertake large and challenging management, leasing, development and acquisition projects.
PMRG’s portfolio, including projects managed for third parties, includes commercial office buildings, mixed-use centers, corporate headquarters, industrial buildings, medical facilities, high-rise multifamily buildings and re-appropriated military facilities.
Our goal is to generate exceptional returns for our clients and investors by focusing on real estate fundamentals. For additional information, visit www.pmrg.com