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3/21/18
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Orange County Sanitation District paid $9.75 mil for a 44.2k sf ($221/sf) office building in Fountain Valley. The property, located at 18350 Mount Langley St, east of Brookhurst St by the 405 Fwy, was sold by K&A Investments LP.
Built in 1986, the two-story office building is situated on 2.63 acres within the Fountain Valley Business Center. The building is in a prime West County office submarket, with excellent freeway accessibility only half-a-mile from the 405 freeway. The property was 100% leased at the time of the sale. The new owner plans to eventually occupy the building as space becomes available.
Steven Hogberg with NAI Capital represented the seller in the transaction. The buyer was repped by Cushman & Wakefield. According to Hogberg, suburban freestanding office buildings in prime areas with good tenants in place rarely come on the market for sale. In this case, the property was not for sale and the buyer approached the seller with an unsolicited offer.
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