Maguire Properties Inc. said Friday that it completed the sale of a large Irvine office building to Botox maker Allergan Inc., which occupies the site.

The Los Angeles real estate investment trust, which has been selling off non-core properties to lower debt, said it received net proceeds of $1.8 million from the transaction. The transaction was valued at $22 million, including Allergan’s assumption of the property’s $20 million mortgage loan.

Allergan’s lease at 18581 Teller, which is part of its corporate headquarters, had been set to expire in 2011. No impairment was recorded on the disposition of the property.

“We are pleased to complete this transaction, which eliminates in full our obligation under the project loan and addresses a significant lease roll in 2011,” said Chief Executive Nelson C. Rising in a statement.

Maguire shares were down 5 cents, or 6 percent, to 79 cents in morning trading on the New York Stock Exchange.