Thursday, September 5, 2013

Sale of Mission Ridge in Mission Viejo, CA closed by HFF

Mission Ridge two-building office campus, Mission Viejo, CA

Ryan Gallagher
IRVINE, CA – HFF announced today that it has closed the sale of Mission Ridge, a two-building, Class A office campus totaling 231,065 square feet in Mission Viejo, California.

               HFF marketed the property on behalf of Prudential Real Estate Investors.  Cornerstone Real Estate Advisers, on behalf of an institutional investor, purchased the asset free and clear of existing debt.

Developed in 2000, the property was 90 percent leased at the time of sale.  Significant tenants include Ensign Facility Services, McAfee, Pulte Homes, Wells Fargo, Charles Schwab and Premier Office Centers. 

Mike McCann
The high quality, four-story buildings are situated around a landscaped central courtyard.    Mission Ridge is located immediately adjacent to Interstate 5 near the Crown Valley Parkway commercial corridor. 

HFF’s investment sales team representing the seller was led by senior managing director Ryan Gallagher, managing director Mike McCann, director Tim Geiman and associate directors Derreck Barker and Nick Foster. 

Greg Puccinelli
Greg Puccinelli of Jones Lang LaSalle was the local market leasing broker on the sale.

“This property was highly sought after due to its location, quality and historically strong track record within south Orange County,” commented Ryan Gallagher.

PREI®, which has been investing in real estate on behalf of institutional clients since 1970, is a leader in the global real estate investment management business, offering a broad range of investment vehicles that invest in private and public market opportunities in the United States, Europe, the Middle East, Asia, Australia and Latin America.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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