CBRE negotiated the $40.6-million sale of 5 Peters Canyon Rd., a 157,455-square-foot, low-rise office building in Irvine, to an owner-user. The CBRE Investment Properties team of Anthony DeLorenzo, Sammy Cemo and Bryan Johnson, along with Matt Didier, Jennifer Whittington and David Dowd, represented the seller, a joint venture with Pendulum Property Partners, in the transaction. CBRE’s Eric Pumont represented the buyer, TP-Link Systems Inc.
“This was an incredible opportunity for the buyer, a technology company, to purchase an institutional quality asset they can grow into for years to come,” said DeLorenzo. “Our team worked quickly to produce a very competitive bidding environment from a diverse buyer pool, closing the transaction within 90 days of listing the property for sale.”…