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9/17/14
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Shea Properties has completed the disposition of its holdings at Aliso Viejo Town Center with the recent sales of the last two buildings, in deals with a combined value of roughly $13.925 mil. One of the buildings, a 34k sf asset at 26940 Aliso Viejo Pkwy, was purchased by Roosevelt Capital Partnership for $6.75 mil ($199/sf). The other building, a 39k sf structure at 26970 Aliso Viejo Pkwy, was acquired by AVM Investment Group for $7.17 mil ($185/sf).
Both 26940 and 26970 Aliso Viejo Parkway are freestanding, two-story office buildings featuring surface parking and located within Aliso Viejo Town Center. The business campus, conveniently located near the 73 Fwy and John Wayne Airport, is in close proximity to a variety of dining restaurants.
Both buildings have spaces available to lease. Roosevelt Capital Partnership will rebrand their property and build out creative office space in the building’s vacant units to set itself apart from the more traditional build-out at the rest of the center.
Tim Joyce, Senior Vice President of PM Realty Group, and Gary Allen and Doug Matthews of Newmark Grubb Knight Frank represented the buyers and sellers in both transactions. Joyce has been representing Shea Properties in leasing and sales transactions for nearly 20 years.
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