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11/28/18
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Stanton Road Capital has purchased The Offices @ Village Business Park, a two-building 141.4k sf office property in Buena Park. The price was not disclosed.
Built in 1980 and 1987 and renovated in 2017, the property is situated on approximately 10.5 acres at 7000 and 7001 Village Drive and includes 828 parking spaces. At 54% leased, the recently renovated property was marketed to potential buyers seeking a value-add opportunity.
The Offices @ Village Business Park is proximate to some of Orange County’s top entertainment and retail venues including Knott’s Berry Farm and the Source OC, a 400,000-square-foot outdoor dining, shopping and entertainment destination. The property is also convenient to the 5 and 91 freeways.
NKF’s Co-Head of U.S. Capital Markets Kevin Shannon, Executive Managing Director Paul Jones, Managing Director Blake Bokosky and Senior Associate Brandon White represented the seller, Westcore Properties. Stanton Road Capital was self-represented.
“This asset offers the buyer an attractive value-add opportunity as there is a large back-office vacancy and office suites that once filled will significantly increase the cash-flow of this quality office project,” said Jones. “The above-standard convenient surface parking and densely populated key north Orange County location, are strong draws for users.”
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