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5/08/19
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Dollinger Properties purchased Fairway Center I, a 145.5k sf suburban office building in the Orange County community of Brea, in a recent $33.5 mil ($230/sf) transaction.
Situated on 5.5 acres at 1800 E. Imperial Highway, Fairway Center I is located off of the 57 Fwy on Imperial Highway, which offers visibility to approximately 256,000 vehicles per day and provides access to more than 4 msf of retail and service amenities. Additionally, the property is near the 1.3 msf Brea Mall lifestyle center (Simon).
Fairway Center I is 90.7% leased to five tenants. The suburban office building features a two-story marble lobby with a 25-foot circular skylight, lush landscaping, open floor plans and a parking garage.
Mark DeGiorgio and Michael Leggett with HFF represented the seller in the deal.
“Extremely positive market fundamentals in the Brea office submarket, coupled with Fairway Center I’s longevity of credit tenants and areas for capital improvements, attracted a variety of private and institutional investors to the project,” DeGiorgio said.
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