Marcus & Millichap arranged the sale of the 166,068-square-foot Jeronimo Technology Park in Irvine, Calif.
The value of the transaction was not disclosed.
The Jeronimo Technology Park consists of two two-story office/R&D buildings situated on approximately 7.4 acres of fee land. The property is occupied by three tenants: Telelogic, Inovx and CMD/Silicon Image, each with triple-net lease agreements. The buildings were constructed in 1986 and are located at the corner of Alton Parkway and Jeronimo Road in the Irvine Spectrum Center.
LBA-VF III LLC, an affiliate of Layton-Belling & Associates and AEW Capital Management, sold the property to Jeronimo Technology Partners LLC, a Newport Beach-based investment partnership.
Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.
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