Voit Development Co. recently acquired an 86,633-square-foot office building in Tustin, Calif.
The acquisition was valued at $10 million.
At the time of sale, Voit had leased approximately 53 percent the building to Safeco Insurance Co. of America, which signed a three-and-a-half-year lease for approximately 45,965 square feet of the building. The lease was valued at $3.6 million.
Safeco will use the Tustin location at 14511 Myford as its Orange County hub. The office will house the company’s subsidiary, Safeco Financial Institution Solutions, and other Safeco divisions.
Voit plans to lease the remaining 43,527 square feet to one or two tenants.
Woodland Hills, Calif.-based The Voit Cos. is involved in acquisition, development and brokerage services throughout California, Arizona and Nevada.
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