Centerstone Plaza Sold for $30.4 Million

A Northern California real estate investment trust has purchased Centerstone Plaza, a mid-sized commercial and restaurant center in Irvine’s Woodbridge area, for $30.4 million.

The sellers, CT Realty Corp. of Newport Beach and Irvine-based development company Resco, acquired the property in 1995 for $23 million. The buyer is Glenborough Realty Trust of San Mateo.

Centerstone, at Barranca Parkway and Culver Drive, is a 12-acre mixed-use center with three commercial office buildings, a medical office and two restaurants.