CBRE brokers $27.5M sale of Spectrum Tower in Laguna Hills – Orange County Register

Transactions

CBRE Group has brokered the sale of Spectrum Tower, an office property located in Laguna Hills to Monday Properties for $27.5 million. CBRE’s Anthony DeLorenzo, Bob Smith, Todd Tydlaska, and Sean Sullivan represented the seller, TA Realty. Brad Zampa and Shaun Moothart of CBRE Capital Markets Debt & Structured Finance secured the financing for the New York-based buyer. The 113,489-square-foot property at 23046 Avenida De La Carlote includes tenants such as Citizen Business Bank, Virginia Landry law offices, Regus, William Jordan Investments and STRADA Capital Corp.

CBRE also brokered the sale of Seagate Plaza, a shopping center strip mall in Huntington Beach, to a 1031-exchange buyer for $10.8 million. CBRE’s Dan Riley and Austin Wolitarsky represented the seller, Asbury Properties, a family-owned real estate company based in Los Angeles. Joseph Lising of Marcus & Millichap represented the buyer, Cathy Investments with assistance from Christopher Beck of NGKF. The 30,234-square-foot property at 16031–16107 Bolsa Chica St. is 100 percent leased to an array of tenants such as Carl’s Jr, Subway and Seagate Veterinary Hospital.

Rexford Industrial Realty sold 2811 South Harbor Blvd. in Santa Ana for roughly $18.7 million. The single-tenant, 126,796-square-foot industrial building on 5.62 acres is in the Orange County-Airport submarket. The property was purchased in 2016 as part of a portfolio and was sold to the in-place tenant who exercised its purchase option. Rexford…

Read the full article from the Source…

Leave a Reply

Your email address will not be published. Required fields are marked *