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October 22, 2019 Comments Off on Anaheim Asset Trades in 1031 Exchange Views: 944 California News, Orange County

Anaheim Asset Trades in 1031 Exchange

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NKF completed the $14.2-million sale of 100 S. Anaheim, a three-story 50,384-square-foot, multi-tenant office building in downtown Anaheim, CA. The asset is fully leased to nine tenants including MemorialCare, Guggenheim Partners, Arbor E&T (ResCare), Partners Federal Credit Union and Total Paper Services.

NKF’s Sean Fulp, Paul Jones, Ryan Plummer, Blake Bokosky and Michael Spiezia represented the seller, Anaheim-based Milan Capital Management. NKF’s John Ewart advised the 1031 exchange buyer, Mission Drive-In Theatre Company.

Built in 1983 and renovated in 2017, the property is situated on 1.44 acres along South Anaheim Boulevard, a primary Anaheim thoroughfare. It is within walking distance to amenities such as the Packing House and Center Street Promenade, as well as near the 5, 91 and 57 freeways.

Fulp noted they are seeing a lot of 1031 trade activity between $10 million and $15 million. He says, “Our asking price at $14.5 million happened to fall within the sweet spot for buyer demand in Southern California.”

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