October 18, 2019 Comments Off on Hines Divests Brea Building for $17M Views: 569 California News, Orange County

Hines Divests Brea Building for $17M

Anaheim-based Crowne Pointe Equity acquired a 45,158-square-foot office building in Brea for $17 million or roughly $376-per-square-foot from Houston-based Hines. The two-story, newly-renovated office property is located at 130 S. State College Blvd. in North Orange County.

The campus features on-site amenities, frontage along the 57 freeway, and is near the 1.3-million-square foot Brea Mall. Pacific Western Bank currently occupies 100% of the building and has been a tenant since 2009. Among the capital improvements, made by the owner, include an outdoor renovation, new roof overlay, new double-check detector assembly, curtain wall caulking and integration of a new building management system.

CBRE’s Anthony DeLorenzo, Gary Stache, Doug Mack, Rick Warner and Chip Warner represented the seller. The buyer was advised by an outside broker.

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