Laguna Hills Creative Office Sells for $64M

Kingsbarn Realty Capital and Kelemen Company have purchased HERE, a five-building creative office campus in Laguna Hills, CA. Newmark’s Kevin Shannon, Paul Jones, Brunson Howard and Brandon White represented the sellers Cigna Realty Investors and Cruzan, in the $64 million deal.

HERE is a 224,000-square-foot campus that was renovated and repositioned as a creative office space in 2016 with updates to lobbies, corridors and restrooms. Property amenities include an outdoor lounge, mountain views, a conference center and a fitness facility. The South Orange County location is located in a dynamic creative office market, and is adjacent to a retail center with numerous shopping and dining options.

“The repositioned creative office campus offered the buyers potential options that include continuing to push creative office rents, selling the five individual buildings to owner/users or redeveloping the site to multifamily,” said Jones in a news release.