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3/10/22
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LPC West and TriGate Capital LLC have teamed up in the acquisition of The Square on Main, a 420k sf, Class A office campus in the City of Orange. A price was not immediately given out.
Located just east of I-5 at Main St and La Veta Ave, The Square on Main is tenanted by a diverse range of longtime tenants in both the public and private sectors. The campus is 96.5% leased with 13 tenants, including the Orange County Transportation Authority and Western Dental, both tenants of more than 25 years.
The 7.6-acre campus includes two 12-story buildings, one six-story building, two one-story buildings, and a large parking structure. In addition, the site offers full transit accessibility, with access to the 22 and 57 Freeways and numerous airports within 40 miles. The campus is within walking distance of high-quality housing, the Main Place Regional Mall, advanced healthcare facilities, and many other amenities.
LPC West will implement a variety of sustainability upgrades and overall operational enhancements throughout the property to help boost efficiency and limit its environmental footprint. Tenants will also benefit from new technology solutions delivered through LPC Ventures, Lincoln Property Company’s technology incubator. These may include advanced energy management platforms, tenant access solutions, and food delivery upgrades, among other services.
“The Square on Main is a landmark commercial project that reflects the vibrancy of the Orange County region,” said Parke Miller, Executive Vice President of Southern California for LPC West. “Along with significant visibility, accessibility and amenities, the campus features great tenants who began to return to work ahead of the curve during the pandemic. It represents a prime example of why we remain bullish on the promise of well-positioned, highly amenitized office space in this market as businesses increasingly return to in-person work.”
Working with TriGate Capital is allowing LPC West to continue expanding its presence in Orange County, the sixth most populous county in the United States and home to many Fortune 500 companies as well as the famed Disneyland Resort in nearby Anaheim. LPC West’s Orange County portfolio consists of approximately 35 properties totaling almost 7.2 msf of office, industrial and retail uses.
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