February 8, 2017 Comments Off on Hines, Oaktree Acquire Transit-Oriented Asset Views: 348 California News, Orange County

Hines, Oaktree Acquire Transit-Oriented Asset

Houston-based Hines, along with a fund managed by Oaktree Capital Management, LP, acquired Pacific Center, a four-building, mixed-use office campus in Anaheim, CA. The seller and acquisition price and were undisclosed for the 143,000-square-foot asset.

Situated on 15.5 acres, the 93%-leased transit-oriented campus contains a mix of office, flex-industrial, and retail, as well as land for future development. Among the tenants are employment development offices of the State of California and multiple software companies.

The campus is slated to undergo a complete transformation through a capital improvement program encompassing new site work and landscaping, premier signage, and exterior building facades. Construction is expected to commence later this spring.

Hines’ Ray Lawler said, “The on-site Metrolink station provides an opportunity for walkable, transit-oriented, mixed-use development in the Orange County area.”

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