July 10, 2017 Comments Off on Monday Properties Makes First SoCal Move Views: 1143 California News, Orange County

Monday Properties Makes First SoCal Move

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New York-based Monday Properties acquired Spectrum Tower, a 113,489-square-foot office property located in Laguna Hills, CA from Boston-based TA Realty for $27.5 million. Located at 23046 Avenida De La Carlote, it is Monday Properties’ first acquisition in SoCal.

Spectrum Tower, built in 1983, is a Class A property featuring contemporary design and efficient floor plates. The site is near Irvine Spectrum, and includes such tenants as Citizen Business Bank, Virginia Landry law offices, Regus, William Jordan Investments and Strada Capital Corp.

CBRE’s Anthony DeLorenzo, Bob Smith, Todd Tydlaska, and Sean Sullivan represented the seller. CBRE Capital Markets Debt & Structured Finance’s Brad Zampa and Shaun Moothart secured buyer financing.

Moothart says, “Ultimately, we were able to negotiate very favorable pricing and terms with a regional bank that was willing to provide additional funding for such items as capital expenditures and tenant improvements throughout Monday’s planned repositioning of the property.”

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