Project Overview:

Voit Real Estate Services was selected to market the former ICN Pharmaceutical Facility, an Orange County icon for new buyer AEW and re-tenant the building.  The Property underwent a complete building renovation including asbestos removal on all floors.

Voit worked on securing lease proposals that did not execute in successful leases due to the declining economy and tenant reluctance to move forward.  As a result, AEW focused on a sale of the asset.

Voit secured the right buyer, an owner/user from Los Angeles to occupy the property.  The Property closed escrow within sixty (60) days from negotiating a purchase and sale contract.

Challenge:

Sell the property, one of the largest most visible office properties on the 405 Freeway in a declining real estate market

Result:

Voit sold to an owner/user who is utilizing only 1/3 of the Property for its own use. While the challenge of securing a buyer was remote, Voit rose to the challenge and was able to close the property in 60 days by providing all due diligence to Buyers timely.