California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
KBS Capital Advisors Claims City Tower for $147M in Orange
City Tower, an iconic 20-story, 435,177-square-foot office building in Orange, CA, has traded hands for $147.25 million. The Class A high-rise was acquired by KBS Capital Advisors, which bought the asset from Torchlight Investors.
NKF Capital Markets’ Kevin Shannon, Paul Jones, Sean Fulp and Blake Bokosky represented the seller. The buyer was self-represented.
“Central Orange County has been seeing an increase in tenant demand, yet no new office construction, which bodes well for rent growth and asset appreciation,” said Jones.
Built in 1988, the LEED Gold-certified property is situated on 4.92 acres at 333 City Boulevard West, and includes an on-site café and adjacent six-level parking structure. City Tower is adjacent to the UC Irvine Medical Center, and is the tallest building in the central Orange County submarket and the third tallest in Orange County. The property recently underwent a $3 million renovation.
Cushman & Wakefield was hired by KBS to perform multiple services for its new asset, including project leasing, property management and project management.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


