Antenna Firm Buys Building for $1.65M

IRVINE, CA-Ace Antenna Company Inc., a designer and manufacturer of wireless antennas, bought an 11,000-sf industrial building with mezzanine office space at 9201 Irvine Blvd. in the Allred Business Center from a private family trust for $1.65 million.

Sam Olmstead of Voit Commercial Brokerage tells GlobeSt.com that the seller bought the building about a year ago and initially sought to lease it. The building, one of about 15 in the Allred Business Center, stayed on the leasing market for about four or five months, he says. But the weak leasing market after Sept. 11 prompted the seller to put the property up for sale, and the buyer came along about 60 days later.

Olmstead, who represented the seller, says the building was completed in 2001 and that the 11,000 sf includes about 4,300 sf of mezzanine office and the rest industrial space. The two-story, concrete tilt-up building has 22-foot clear heights and was developed by Allred Development of San Diego.