Hines Acquires PacSun Global HQ in Anaheim
Houston-based Hines and funds, managed by Los Angeles-based Oaktree Capital Management, L.P., acquired Pacific Sunwear’s (PacSun) Global Headquarters in Anaheim, CA. The 181,000-square-foot, three-story Class A office building traded in a 15-year sale-leaseback for an undisclosed amount.
Originally developed in 2002 as a build-to-suit for specialty retailer PacSun, the property will continue to serve as global HQ for PacSun. The campus includes large outdoor lounge areas and barbeque grills, volleyball and basketball courts, and a skate ramp. The property is located at Grove Street and East Miraloma Avenue, and offers convenient access to the 91 and 55 Freeways.
The deal represents the ninth acquisition for Hines and Oaktree in the North Orange County submarket, and the 16th in greater Orange County since 2011.
NKF’s Kevin Shannon, Paul Jones and Ken White represented both parties.
For comments, questions or concerns, please contact Dennis Kaiser