CORFAC News

Newport Beach, Calif., – Voit Real Estate Services/CORFAC International is proud to announce that Chris Deason, Senior Vice President, and Carter Harrington, Senior Associate, both in Voit’s Irvine office, successfully directed the lease of a 5,625 square-foot creative office space in Newport Beach on behalf of the landlord, an affiliate of Cress Capital, LLC based in Newport Beach. The tenant, Mapperarti, also based out of Newport Beach, was represented by Travis Forster of Wind Water Realty and will use this property as their international corporate headquarters, according to Voit.

“Mapperarti desired an open creative property with abundant natural light, operational windows and private patios for their employees and visitors to enjoy during and after business hours,” commented Deason.

Art Smith and Ryan Parkin of Cress Capital stated, “We are thrilled to have Mapperarti as a new tenant only weeks after completing property renovations and believe their team members will enjoy the many amenities that 7 Upper Newport Plaza has to offer its tenants and visitors.” 

Cress Capital recently acquired the property from a lender that owned it as REO for several years. Within four months of closing, Cress renovated the property with new, modern finishes and completed this lease. Mapperarti was the first tenant to sign a lease on the repositioned Newport Beach office building and took occupancy before April 1, 2016, with landlord having several back-up offers for the space. The building has about 6,000 square feet of additional space ready for immediate occupancy.

The property is located at 7 Upper Newport Plaza in Newport Beach, Calif. 

About Voit Real Estate Services/CORFAC International
Voit Real Estate Services/CORFAC International is a privately held, broker owned Southern California commercial real estate firm that provides strategic property solutions tailored to clients' needs. Throughout its 40+ year history, the firm has developed, managed and acquired more than 64 million square feet and completed more than $44.8 billion in brokerage transactions encompassing more than 43,000 brokerage deals. Voit’s unmatched expertise in Southern California brokerage, investment advisory, financial analysis and market research enable the firm to provide clients with forward looking strategies that create value for a wide range of assets and portfolios. Further information is available at www.voitco.com.