BPG & Kingsbarn JV Pays $82M for Santa Ana’s Griffin Towers

A joint venture between Barker Pacific Group (BPG) and Kingsbarn Realty Capital has acquired Griffin Towers, a two-building office campus in Santa Ana, CA. The recently renovated twin buildings were built in 1987 and offer 560,000 rentable square feet of Class A office space with flexible floor plans.

Newmark’s Kevin Shannon, Paul Jones and Brandon White represented the undisclosed seller in the $82 million deal and David Milestone and Henry Cassiday of Newmark represented the buyer for its debt financing efforts. CBRE’s Dean Chandler, Justin Hill, Peter Wells and Taylor Friend will continue leasing the property which already includes UKG, Michael Baker International and Psomas as tenants.

“While there are market challenges for owners of office buildings, we believe in the future of high-quality office environments with great locations and robust amenities which Griffin Towers offers its tenants,” said BPG Principal Mark Handin.

Griffin Towers amenities include a fitness center, outdoor bocce court, 1,846 parking spaces in a six-story garage and four EV charging stations.

Don’t miss Connect LA on May 3 at the Hotel Indigo. Connect in person with California CRE expert like Colliers’ Vice Chair Sean Fulp.