California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Guthrie Completes Renovation, Sells Placentia Office Park
Newport Beach, CA-based Guthrie Development Company sold Placentia Office Park at 701 and 711 Kimberly Avenue in Placentia, CA for $10.4 million. The property consists of two office buildings totaling 72,897 square feet of space.
Guthrie acquired the properties in June 2017 from an institutional owner, and subsequently executed a renovation plan on the property including a new silicone roof overlay system, new parking lots, and new building paint. The rent roll was stabilized with new and renewal leasing that has brought the asset to 90% occupied. Tenants include North American Title Company and Sunrise Growers.
NKF’s Paul Jones, Blake Bokosky and Brandon White represented the seller. The undisclosed buyer, a private investor, was represented by NKF’s Drew Sanden.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


