July 6, 2017
Connect Orange County is coming up July 27th at the Balboa Bay Club. Here’s where to get more information and register.
Newport Beach, CA-based Guthrie Development acquired Placentia Corporate Center in Placentia, CA from Boston-based TA Realty for $14.25 million. The 104,266-square-foot, four-building, multi-tenant office/R&D campus is located at 600 South Placentia Ave. on 6.47 acres. The 89%-leased property was built in 1987 and renovated in 2016.
NKF Capital Markets’ Kevin Shannon, Paul Jones and Blake Bokosky represented the institutional seller.
“While this is an institutional-quality property with freeway visibility, the buyer recognized the opportunity to create more value to this recently renovated campus by making some minor improvements and bringing rents to market rates as leases expire,” said Bokosky. “Furthermore, the buyer identified the potential to maximize value in its exit strategy by selling off the buildings individually as they are each on separate land parcels.”
For comments, questions or concerns, please contact Dennis Kaiser