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5/31/24
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MicroVention, a neuroendovascular medical device company, has acquired 45 Enterprise, a 242.7k sf, high-rise office building in Aliso Viejo, for $42.25 mil, or $183/sf.
45 Enterprise is a nine-story vacant building built in 2007 and renovated in 2022. The property features open floorplates, an on-site cafeteria, conference and meeting rooms, premier building signage and a parking ratio of 4.6 spaces per every 1k sf of space.
The property is adjacent to State Route 73 and near Interstate 5, providing excellent connectivity throughout Orange County and the entire Southern California region.
CBRE’s Carol Trapani and Allison Kelly represented the buyer in the transaction.
“MicroVention secured the asset well below replacement cost, which will ensure the potential for their long-term growth while locking in a low occupancy cost for the long term,” said Trapani.
“While lease rates have not changed significantly through and post-pandemic, office building values have become very advantageous for owner-user buyers throughout Orange County,” added Kelly.
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