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Barker Pacific Group and Kingsbarn Realty Capital Pay $82 Mil for 560k sf OC Office Complex

4/07/23

A joint venture between Barker Pacific Group and Kingsbarn Realty Capital acquired Griffin Towers, a 560k sf, office park featuring twin 13-story office buildings in Santa Ana, in an $82 mil transaction. The property was sold by Blackstone.

Located at 5 and 6 Hutton Centre Drive in the prestigious South Coast Metro area, the Class A towers were built in 1987 and recently renovated. Major tenants in Griffin Towers include UKG, Michael Baker International, Psomas, Nationís Direct Mortgage, HNTB, and the Ayn Rand Institute.

Orange County's first Wired Certified Project, the property offers abundant on-site amenities, including a fitness center with shower and locker rooms, a conference center with full catering kitchenette, an outdoor bocce court with soft seating areas, and a six-story parking structure with 1846 spaces and four EV charging stations.

Minutes away from John Wayne Airport, Griffin Towers offers immediate access to the 55 and 405 freeways with a dedicated lane to the airport as well as excellent visibility within the dynamic South Coast Metro area, bounded by Los Angeles to the north, San Diego to the south and the Pacific Coast to the west. The office park is near various eating establishments, local prominent retail malls (South Coast Plaza, Fashion Island, and Irvine Marketplace), and the University of California, Irvine, as well as within a half an hour of Disneyland, Honda Center, Angel Stadium of Anaheim, and Anaheim Convention Center.

Kevin Shannan, Paul Jones, and Brandon White of Newmark represented Blackstone. David Milestone and Henry Cassiday of Newmark represented the buyer for its debt financing efforts.

Dean Chandler, Justin Hill, Peter Wells, and Taylor Friend of CBREís Newport Beach office will continue leasing Griffin Towers. Barker Pacific Group will direct property management with an onsite management team.





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