{"id":1004270276,"date":"2018-10-09T06:56:06","date_gmt":"2018-10-09T14:56:06","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004270276"},"modified":"2022-12-07T17:56:12","modified_gmt":"2022-12-08T01:56:12","slug":"everwest-frontal-trust-snag-oc-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/everwest-frontal-trust-snag-oc-office-asset\/","title":{"rendered":"EverWest, Frontal Trust Snag OC Office Asset"},"content":{"rendered":"<p>By Roxana Baiceanu<\/p>\n<div id=\"attachment_1004270312\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/999-W.-Town-and-Country-Road.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004270312\" data-attachment-id=\"1004270312\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/everwest-frontal-trust-snag-oc-office-asset\/999-w-town-and-country-road\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/999-W.-Town-and-Country-Road.jpg\" data-orig-size=\"640,512\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"999 W. Town and Country Road\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;999 W. Town and Country Road&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/999-W.-Town-and-Country-Road.jpg?w=640\" class=\"wp-image-1004270312 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/999-W.-Town-and-Country-Road.jpg\" alt=\"\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/999-W.-Town-and-Country-Road.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/999-W.-Town-and-Country-Road.jpg?resize=300,240 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004270312\" class=\"wp-caption-text\">999 W. Town and Country Road<\/p><\/div>\n<p>EverWest Real Estate Investors and Frontal Trust, a Chilean-based fund manager, have acquired a newly renovated office property located in the heart of Town and Country Corridor in Orange County. The 99,000 square-foot property belonged to Westcore Properties and was sold for $32 million, a $7 million premium over what the former owner paid for it in 2014, according to real estate data provider Yardi Matrix. The acquisition is the third one that <a href=\"https:\/\/www.commercialsearch.com\/news\/everwest-partners-group-acquire-110m-ca-office-campus\/\">EverWest closed in California<\/a> over the past summer.<\/p>\n<p>EverWest\u2019s Managing Director Erik Good represented the buyers in-house while HFF\u2019s Derreck Barker and Michael Leggett directed the sale on behalf of the seller.<\/p>\n<h2>Upcoming live-work environment<\/h2>\n<p>The four-story asset is located at 999 W. Town and Country Road and is currently 75 percent leased by a tenant which recently renewed for the next 10 years. The company consolidated its office leaving the top floor vacant for the first time in several decades. The building sits on a parcel which also houses a five-story parking garage and is getting ready to make room for a Class A, 262-unit multifamily property by Toll Brothers.<\/p>\n<p>Originally built in 1976, 999 Town &amp; Country has been renovated twice over the years. Following the latest upgrades, it features an improved lobby, restrooms and elevators, modernized workspaces, new monument and wayfinding signage, as well as a refreshed exterior and landscaping. It is located off California State Route 22 and provides immediate access to Interstate 5.<\/p>\n<p>The nearby area is rich in amenities, shopping venues\u2014such as Main Place Mall\u2014parks, museums and schools. The University of California Irvine is 15 miles away while John Wayne International Airport is approximately 10 miles away.<\/p>\n<p>\u201c<em>There is transformative urbanization taking place in this neighborhood that will create a true live-work environment for our property,<\/em>\u201d said Good in a prepared statement.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The building, previously owned by Westcore Properties, is located in the heart of the Town and Country Corridor. <\/p>\n","protected":false},"author":30,"featured_media":1004270312,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21742,21747,34267,15],"tags":[40101,38504,32792,34163],"class_list":["post-1004270276","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-latest","category-office","category-orange-county","category-west","tag-everwest-real-estate-investors","tag-frontal-trust","tag-hff","tag-westcore-properties"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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