The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
September 22, 2018
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



HOME PAGE NEWS
Printer-friendly Version   Email an Associate
KBS Capital Advisors Spends $147 Mil on OC Office Tower

3/09/18

City Tower, a 20-story, 435.2k sf high-rise office building in the city of Orange, was acquired by KBS Capital Advisors in a $147.25 mil ($338/sf) transaction. The property, located at 333 City Boulevard West, adjacent to the UC Irvine Medical Center, was sold by Torchlight Investors.

Built in 1988, City Tower is situated on 4.92 acres and includes an on-site café an adjacent six-level parking structure. It is the tallest building in the central Orange County submarket and the third tallest in Orange County.

City Tower is LEED Gold certified. The property recently underwent a $3 mil renovation that included upgrading the lobby, corridors, restrooms and elevator cab interiors. It is 78% leased to a roster of notable tenants including UC Irvine Medical Center, Enterprise Rent-A-Car, Travelers Insurance and York Risk Services Group.

NKF Capital Markets Co-Head of US Capital Markets Kevin Shannon, Senior Managing Director Paul Jones, Executive Managing Director Sean Fulp and Director Blake Bokosky represented the seller in the deal. The buyer was self-represented.

“Central Orange County has been seeing an increase in tenant demand, yet no new office construction, which bodes well for rent growth and asset appreciation,” said Jones. “Our NKF Capital Markets team secured a strong price of more than $338 per square foot for this asset. That price is testimony to investor confidence in the submarket as well as the value in this core, high-image office tower.”

City Tower provides access and high visibility from three major freeways (57, 5 and 22) and is walking distance to the Outlets at Orange, an 806k sf dining, shopping and entertainment destination.





Return to the Archive page


 
 


 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2018 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media