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Central Orange Offices Sell to Owner-User
Newmark facilitated the sale of 999 Town & Country, a 98,907-square-foot Class A office building in Orange. The property sold for $17,900,000.
Co-head, U.S. capital markets Kevin Shannon, vice chairmen Paul Jones and Ken White and senior managing director Brandon White represented the institutional seller. Hampton Tedder Electric was the buyer and plans to occupy the building’s 15,700-square-foot vacant top floor.
“This transaction underscores the demand for well-located, versatile properties in Central Orange County,” said Jones. “With the continued displacement of office buildings and lack of institutional investors looking to buy, full or partial owner-users are seeing tremendous opportunities in today’s market.”
The four-story building, located in the Central Orange County submarket, was 84% leased at the time of sale. Existing tenants include AECOM and Intercare.
- ◦Sale/Acquisition