Irvine Community Land Trust has paid $26.5 million, or $96.36/sf, for the 275,000-square-foot office property at 2400 Barranca Parkway in Irvine, Calif. The Irvine company purchased the property from Gemdale USA of Pasadena, Calif., in a deal brokered by Marcus & Millichap’s Institutional Property Advisors unit. The property, which was marketed as a redevelopment opportunity, […]

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