Friday, September 11, 2015

HFF closes sale of Class A South Orange County, CA office property

Foothill Plaza office campus, Foothill Ranch, Lake Forest, CA

Ryan Gallagher

IRVINE, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Foothill Plaza, a two-building, 208,747-square-foot, Class A office campus in Foothill Ranch in the city of Lake Forest, California.

HFF represented the seller in the transaction.  Cornerstone Real Estate Advisers, acting on behalf of a Firm-managed fund, purchased Foothill Plaza free and clear of debt.  

Additionally, HFF has arranged a five-year, full term interest-only, fixed-rate permanent financing with a correspondent life company for the buyer, which is in the process of closing.

Foothill Plaza is located at 27422 and 27442 Portola Parkway within the master planned community of Foothill Ranch in South Orange County.  

The property is immediately adjacent to and visible from State Route 241 and is within close proximity to the Santa Ana and San Diego Freeways. 

Foothill Plaza tenants have immediate access to numerous restaurants and retail amenities on-site including Wahoo’s Fish Taco, Urban Grill and Wine Bar, Starbucks, UPS Store, Comerica Bank and a Marriott Courtyard Hotel as well as the 2,500-acre Whiting Ranch Wilderness Park adjacent to the property.

Kevin MacKenzie
 Foothill Plaza features 34,000-square-foot floor plates and a recently renovated central courtyard with creative outdoor workspaces.  Completed in 2001, the property is 91 percent leased to tenants including iBaset, Kaiser Aluminum and Chemical, Skilled Healthcare Group and Global Benefits Group. 

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

The HFF debt team representing the buyer was led by senior managing director Dana Brome from the Boston office, and senior managing director Kevin MacKenzie and associate director Brian Torp, both from the Orange County office.

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 |