By Evelyn Jozsa
Hines, along with funds managed by Oaktree Capital Management, purchased Pacific Sunwear “PacSun” Global Headquarters, a 181,000-square-foot, three-story Class A office building in Anaheim, Calif. This transaction marks the ninth North Orange County submarket office acquisition closed by the two firms.
“PacSun is a tremendous acquisition to add to our growing net leased portfolio and further strengthens our portfolio in North Orange County,” said Ray Lawler, senior managing director of development and investment office at Hines, in prepared remarks.
Situated at 3450 E Miraloma Ave., at the intersection of Grove Street and East Miraloma Avenue, the building provides easy access to the 91 and 55 Freeways, and is approximately 20 minutes from John Wayne Airport.
The office building was developed in 2002 as a build-to-suit for PacSun and it will continue to serve as their global headquarters. The asset features large outdoor lounge areas and barbecue grills, volleyball and basketball courts and a skate ramp.
Image courtesy of Hines