Los Angeles-based Borstein Enterprises has acquired the 282,000-square-foot Barranca Business Park in Irvine from Northwestern Mutual for an undisclosed price.
The mid-bay industrial park has 13 buildings, ranging in size from 8,500 to 30,500 square feet, and sits on 16.2 acres at 15281-15339 Barranca Parkway in Irvine. It is currently 87% occupied.
The Cushman & Wakefield team of Jeff Chiate, Rick Ellison, Matt Leupold and Aubrie Monahan brokered the deal and represented the buyer and seller.
In a news release, Leupold said the Barranca Business Park “offered a compelling combination of stability and upside for investors seeking secure cash flow and long-term value.”
