Commercial Real Estate in Irvine

NEW -> Contingent Buyer Assistance Program
nc_resident - 24 February 2009 09:12 AM

We had a retail business at Jamboree and Bayside Drive intersection which we sold about 18 months ago. Our rent was $4900 plus cam charges. I spoke to new new owner about a month ago. He said he renegotiated the rent down to $2400 plus cam charges with Irvine company. This tells me that they must be having high vacancy in commercial properties.



How big was the space? 1,200sf?



<span style="font-size: 14px;"><span style="color: red;">About 980sf</span></span>
 
[quote author="tenmagnet" date=1235524808][quote author="nc_resident" date=1235524343]We had a retail business at Jamboree and Bayside Drive intersection which we sold about 18 months ago. Our rent was $4900 plus cam charges. I spoke to new new owner about a month ago. He said he renegotiated the rent down to $2400 plus cam charges with Irvine company. This tells me that they must be having high vacancy in commercial properties.</blockquote>




Surprised to hear that the Irvine Co. discounted the rent so much.

There?s quite a bit of push back on rent from retail tenants.

Figured they?d probably keep the base rent the same and not collect on the cam charges.</blockquote>


I have a buddy (ex-R.E. focused CPA) with a CAM audit business, and biz has been picking up in a big way.
 
[quote author="Boston2theBay" date=1235625912][quote author="tenmagnet" date=1235524808][quote author="nc_resident" date=1235524343]We had a retail business at Jamboree and Bayside Drive intersection which we sold about 18 months ago. Our rent was $4900 plus cam charges. I spoke to new new owner about a month ago. He said he renegotiated the rent down to $2400 plus cam charges with Irvine company. This tells me that they must be having high vacancy in commercial properties.</blockquote>




Surprised to hear that the Irvine Co. discounted the rent so much.

There?s quite a bit of push back on rent from retail tenants.

Figured they?d probably keep the base rent the same and not collect on the cam charges.</blockquote>


I have a buddy (ex-R.E. focused CPA) with a CAM audit business, and biz has been picking up in a big way.</blockquote>
Is he looking to high an ex-Big 4 CPA folks who have a strong commercial real estate background?
 
Shiny Irvine tower costs builder $50 million loss

<A href="http://lansner.freedomblogging.com/2009/03/02/shiny-irvine-tower-costs-builder-50-million-loss/15853/">http://lansner.freedomblogging.com/2009/03/02/shiny-irvine-tower-costs-builder-50-million-loss/15853/</A>
 
Is there a way i can find out how much these industrial condo and flex spaces were purchased for and how they were financed by their previous owners?



Thanks.



Aslan Business Park

47 Post

Irvine, CA 92620



3364 SF Price/SF: $270.00 Price: $908,280



Irvine Spectrum

24 Hammond

Irvine, CA 92602



3516 SF Price/SF: $238.00 Price: $836,808



Koll Center I

16181 Scientific Way

Irvine, CA 92618



4045 SF Price/SF: $280.00 Price: $1,132,600
 
9891 Irvine Center Drive went back to the bank today for $2.5mil, which is less than half of what was owed on it. The CRE crash is here folks.
 
[quote author="graphrix" date=1236662353]9891 Irvine Center Drive went back to the bank today for $2.5mil, which is less than half of what was owed on it. The CRE crash is here folks.</blockquote>




Right on cue,

18071 Fitch declared Bk
 
You must log in or register to reply here.
Back
Top