{"id":1004325902,"date":"2019-05-22T08:09:53","date_gmt":"2019-05-22T16:09:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004325902"},"modified":"2019-05-22T08:09:53","modified_gmt":"2019-05-22T16:09:53","slug":"orange-county-class-a-office-building-changes-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/orange-county-class-a-office-building-changes-hands\/","title":{"rendered":"Orange County Class A Office Building Changes Hands"},"content":{"rendered":"
\"27042<\/a>

27042 Towne Center Drive. Image courtesy of Newmark Knight Frank<\/p><\/div>\n

Newmark Knight Frank has facilitated the sale of an 83,218-square-foot office building in Foothill Ranch, Calif. Kingsbarn Realty Capital purchased the Class A property from an affiliate of Menlo Equities. At the time of the sale, the property had a 90 percent occupancy rate with eight tenants in place.<\/p>\n

The two-story property is located at 27042 Towne Center Drive, near the 241 toll road. The 1998-built office asset is within one mile of Foothill Ranch Towne Center and within 7 miles of Irvine Spectrum Center. In 2015, the property underwent a $2.2 million renovation that included the addition of a conference center, tenant lounge and new landscaping and hardscape.<\/p>\n

Newmark Knight Frank’s Kevin Shannon, Paul Jones, Sean Fulp, Blake Bokosky and Brandon White represented the seller in the transaction.<\/p>\n

Earlier this year, Menlo Equities paid $22.4 million for Heritage Place<\/a>, a 107,000-square-foot, Class B office asset in Nashville, Tenn.<\/p>\n","protected":false},"excerpt":{"rendered":"

An affiliate of Menlo Equities sold the 83,218-square-foot asset to Kingsbarn Realty Capital. The property was 90 percent occupied at the time of the sale. <\/p>\n","protected":false},"author":1274,"featured_media":1004325914,"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":[33532,33084,36007,33531,39124],"class_list":["post-1004325902","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-latest","category-office","category-orange-county","category-west","tag-kevin-shannon","tag-menlo-equities","tag-newmark-knight-frank","tag-paul-jones","tag-sean-fulp"],"acf":[],"yoast_head":"\nOrange County Class A Office Building Changes Hands - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/orange-county-class-a-office-building-changes-hands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Orange County Class A Office Building Changes Hands\" \/>\n<meta property=\"og:description\" content=\"An affiliate of Menlo Equities sold the 83,218-square-foot asset to Kingsbarn Realty Capital. 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