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October 18, 2019
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Kingsbarn Realty Capital Picks Up 83k sf OC Office Asset

5/21/19

In a recent OC office buy, Kingsbarn Realty Capital purchased a two-story, 83.2k sf Class A office property in Foothill Ranch. Built in 1998, the property is located at 27042 Towne Center Dr, just off the 241 Toll Road and Lake Forest Dr.

The property is 90% occupied by eight tenants. In 2015, the asset underwent a $2.2 mil renovation that included the addition of a state-of-the-art conference center, tenant lounge and new landscaping and hardscape. The property is ideally located less than one mile from the 1 msf Foothill Ranch Towne Center and less than six miles away from the Irvine Spectrum.

Newmark Knight Frank’s Kevin Shannon, Paul Jones, Sean Fulp, Blake Bokosky and Brandon White of Team Shannon Private Capital represented the seller, an affiliate of Menlo Equities. The buyer was self-represented. The price was not disclosed. The transaction marks the tenth sale for Team Shannon as a whole in the past 12 months in Orange County, accounting for a total deal volume of over $561 mil.





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