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California   /   October 15, 2019

Dennis Kaiser
By: Dennis Kaiser

AEW Divests Aliso Viejo Asset for $59M

One Enterprise, a Class A, 111,391-square-foot office building in Aliso Viejo, CA, has traded hands for $59 million. The four-story property is situated on 7.27 acres at 1 Enterprise, near the 73 toll road within the master-planned south Orange County city.

The asset was built in 1999 and underwent a recent renovation. It is fully occupied by Microsemi Corporation and Ambry Genetics. It features lush landscaping, first floor lobby, large corporate boardroom, executive kitchen, cafeteria, gym with locker rooms and showers and panoramic Saddleback Valley views.

The private 1031 exchange buyer, BDC, was represented by NKF’s Nick Kucha. NKF’s Paul Jones, Kevin Shannon, Brunson Howard, Blake Bokosky and Brandon White represented the seller, AEW.

Jones says, “The south Orange County area has seen multiple years of positive net absorption and consecutive quarters of positive rent growth. Since being developed, 1 Enterprise has always been occupied by one or two users, and has never experienced vacancy.”

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Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience.
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