March 15, 2016
Houston-based Hines acquired The Volt Campus, a two-story, four-building office complex totaling 191,127 square feet on 11.9 acres in Orange. The acquisition was made along with a fund managed by Los Angeles-based Oaktree Capital Management. The deal financials were not disclosed.
The campus was sold by the global staffing company, Volt Information Sciences, which will lease back 100 percent of the campus for 15 years. It is Hines’ first purchase in Orange, and the investment marks the 13th acquisition by the JV. The portfolio is spread across eight cities, including Anaheim, Brea, Fullerton, Irvine, Newport Beach, Orange, Santa Ana and Yorba Linda.
Cushman and Wakefield’s Jeff Cole and Ed Hernandez represented Volt. Lee and Associates’ Kurt Bruggeman and Ryan Swanson represented the investment joint venture.