May 6, 2016
Newmark Grubb Knight Frank (NGKF) has sold Journey Business Park in South Orange County’s Aliso Viejo submarket for $14 million on behalf of LL & DM Investments, LLC. Wilson Journey, LLC purchased the 60,648 square feet of space and was self-represented in the transaction.
Sixteen tenants currently occupy the two R&D buildings, located at 6 Journey. The two buildings were built in 1999 on over 3 acres of land that encompasses 203 parking spaces, warehouse space, and is situated nearby the 73 Tollway.
Senior Managing Directors Gary Allen and Douglas Matthews represented LL & DM Investments, LLC. Matthews said, “This fully leased investment provided the buyer with a stable cash flow and the opportunity to increase rents over time.”