MW Investment Picks Up Orange County Office Asset
The property traded for 17.5 percent less than it did a decade ago.
The Whittier Comstock LLC, a subsidiary of MW Investment Group, has purchased Fairway Center II, a 135,308-square-foot office building in Brea, Calif., for $27.9 million. The asset was 70.5 percent leased at the time of the deal. CBRE arranged the sale on behalf of the seller.
The Pennsylvania Municipal Retirement System was the seller, according to Yardi Matrix information, while Zions Bank originated a $17.8 million acquisition loan.
The asset previously traded 10 years ago for $33.8 million, or $252.4 per square foot, same data provider shows. Piedmont Office Realty Trust was the seller at the time. The current deal marks a 17.5 percent price decrease from its 2016 sale.
Located at 675 Placentia Ave., the three-story Fairway Center II opened in 2002 on 7.38 acres. It is close to state routes 57 and 90, which connect the property to central Los Angeles, less than 30 miles away.
READ ALSO: As Capital Returns, Which Office Deals Will Get Done?
Floorplates at Fairview Center II measure 44,647 square feet, with suites including conference rooms, IT rooms and copy rooms. Kitchens and reception areas are also available in select suites. The property also has more than 500 parking spots, including a dedicated structure.
Fairview Center II is anchored by the County of Orange, which occupies 61,000 square feet. The tenant roster includes New York Life, Keller Williams Realty, DSI Logistics and Crawford, among others.
CBRE Vice Chairman Anthony DeLorenzo, First Vice President Sammy Cemo, Director Bryan Johnson and Investment Sales Manager Jackson Marlow represented the seller. Meanwhile, Executive Vice President Shaun Moothart and Senior Analyst Andrew Post secured the financing on behalf of the buyer.
Orange County sees sales volume drop
As of the second quarter of this year, Orange County saw a sharp decline in transactions. Sales volume was down 74.8 percent quarter-over-quarter and 76.8 percent year-over-year, a recent NAI Capital report shows. The figures reflect broader commercial property trends, even as the average price per-square-foot rose 9.9 percent compared to the previous quarter and 52.0 percent from 2025.
One of the area’s—and the country’s in fact—most notable transactions of this year closed earlier this month some 20 miles from Fairway Center II. PRP Real Assets cashed in $325 million for Broadcom Corporate Campus, a 660,893-square-foot office asset in Irvine, Calif.
You must be logged in to post a comment.