September 19, 2016
San Francisco-based GI Partners acquired Alton Corporate Plaza, two assets totaling roughly 209,000 square feet in Irvine, CA, for an undisclosed price. The transaction was completed through DataCore, L.P, a $500 million, fully-discretionary core real estate fund, managed by GI Partners, on behalf of The California State Teachers’ Retirement System (CalSTRS).
The property is leased as a regional HQ to Rockwell Collins. The office and industrial buildings were developed in 1972 and 1984 at 1733 and 1833 Alton Parkway, and were substantially renovated last year.
GI Partners’ Mike Armstrong says, “The Alton property represents DataCore’s first acquisition in Irvine.”
HFF’s investment sales team included Ryan Gallagher, Derreck Barker and Nicholas Foster. HFF’s debt placement team included Kevin MacKenzie and Lee Redmond.
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