Law firm Greenberg Glusker has closed the purchase of Irvine office property – One Premier Place and Three Premier Place – in a USD73m all-cash deal handled on behalf of the purchaser,
Law firm Greenberg Glusker has closed the purchase of Irvine office property – One Premier Place and Three Premier Place – in a USD73m all-cash deal handled on behalf of the purchaser, Transpacific Development Company.
One of the largest office building purchase and sale transactions in California so far in 2009, the deal caps an approximate billion-dollar year of real estate matters which real estate partner Steven J. Lurie (pictured) has handled since July 2008.
"This deal further solidifies Steve as one of Los Angeles’ top real estate deal makers," says Greenberg Glusker’s managing partner Norman Levine. "In a year that many real estate attorneys are experiencing little transaction volume, Steve is closing landmark deals."
The office building was purchased from the owner, Ford Motor.
The building includes two long-term tenants, Ford and Taco Bell, and is one of Orange County’s first green projects and LEED-certified buildings.
"This was a strategic and unique opportunity for TDC," says Lurie. "It is always satisfying to realize a client’s objectives, and we are proud that we helped our client achieve exactly what it wanted."
