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12/03/21
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In its first joint venture with Kingsbarn Realty Capital LLP, Barker Pacific Group (BPG) has acquired Fullerton Towers, a three-building, 233.2k sf office complex in Fullerton. The property consists of two multi-tenant buildings and one newly built Starbucks drive-through located at 1300, 1400, and 1440 N Harbor Blvd.
The property is situated less than a mile from St. Jude Medical Center and the North Orange County Justice Center, and near many Downtown Fullerton amenities, such as eateries, parks, trails, and other recreational draws. Fullerton Towers’ location is in high demand from the medical and legal industries, in addition to other businesses.
Fullerton Towers underwent a renovation that was completed in 2018. Of the 16 stories in the complex, 14 have been renovated with new corridors, restrooms, and lobbies. As part of BPG’s business plan for the property, the team plans to renovate the two remaining unrenovated floors.
Mike Longo, Anthony DeLorenzo, Sean Sullivan, and Todd Tydlaska of CBRE represented the seller on this transaction. With the help of Greg Grant and Clay Matsuda of CBRE, debt financing was provided by Alliance Bank of Arizona. BPG will retain Peter Wells and Taylor Friend of CBRE to head leasing efforts for the new ownership.
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