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10/15/19
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One Enterprise, a Class A, 111.4k sf office building, has sold in a $59 mil ($530/sf) transaction. The four-story property is situated on 7.27 acres at 1 Enterprise in Aliso Viejo, a master-planned city located in south Orange County.
One Enterprise was built in 1999 and underwent a recent renovation. It is fully occupied by Microsemi Corporation and Ambry Genetics. The asset features lush landscaping, first floor lobby, large corporate boardroom, executive kitchen, cafeteria, gym with locker rooms and showers and panoramic views of the Saddleback Valley. The site is near the 73 toll road and is proximate to a number of nearby amenities including The Commons at Aliso Viejo, a regional shopping center, and features convenient access to nearby parks, beaches, hiking trails, golf courses, and a wide variety of housing options.
NKF’s Executive Managing Director Paul Jones, Co-Head of U.S. Capital Markets Kevin Shannon, Executive Managing Director Brunson Howard, Managing Director Blake Bokosky and Senior Associate Brandon White represented the seller, AEW. The private 1031 exchange buyer, BDC was repped by NKF’s Vice Chairman Nick Kucha.
“This high-end asset is within one of the premier suburban office submarkets in south Orange County,” said Jones. “The south Orange County area has seen multiple years of positive net absorption and consecutive quarters of positive rent growth. Since being developed, One Enterprise has always been occupied by one or two users and has never experienced vacancy.”
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