September 8, 2016
An affiliate of New York-based Angelo Gordon & Co. acquired Oakbrook Plaza, a 119,927-square-foot, multi-tenant office building in Laguna Hills, CA for $30 million. The four-story, Class A asset on 6.85 acres was 79% leased by 28 tenants.
NGKF Capital Markets’ Paul Jones, Kevin Shannon, Robert Griffith and Blake Bokosky represented the seller, Lincoln Advisory Group, an affiliate of Lincoln Property Company, on behalf of a public pension fund. The buyer was self-represented.
NGKF Capital Markets’ David Milestone and Brett Green are arranging the debt financing for the buyer of the asset, built in 1984 and renovated in 2015.
Jones says, “While this is an institutional-quality asset in a strong location, the buyer recognized the opportunity to add value by making some minor capital improvements and lease-up of the remaining vacancy.”
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