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LaSalle Lands South Coast Metro’s 4 Hutton
LaSalle Investment Management’s U.S. value-add fund series, LaSalle Income & Growth, acquired 4 Hutton Centre, a 216,864-square-foot office building in Santa Ana. The Airport submarket asset was acquired from Lakeside Partners, LLC for a reported $55 million.
LaSalle viewed the deal as an opportunity to acquire a well-located, well-maintained office building with significant upside potential through the addition of tenant amenities, a lobby upgrade and lease-up. The 10-story property was renovated in 2008 and 2012, and provides a compelling opportunity to upgrade common areas and add amenities to further enhance its appeal.
The 80%-occupied asset is home to a diverse mix of 21 tenants with a short-weighted average lease term of 2.9 years, allowing the fund to immediately benefit from property improvements. The property is located in the Hutton Centre mixed-use campus near the intersection of the 405 and 55 freeways.
Cushman & Wakefield’s Jeffrey Cole, Ed Hernandez and Nico Napolitano represented both the buyer and seller.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


