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| Mission Ridge two-building office campus, Mission Viejo, CA |
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| 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.
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| 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.
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| 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 | www.hfflp.com
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