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Menlo Equities Affiliate Divests Foothill Ranch Asset
Las Vegas-based Kingsbarn Realty Capital acquired a two-story, 83,218-square-foot Class A office property located at 27042 Towne Center Dr. in Foothill Ranch, CA from an affiliate of Menlo Park, CA-based Menlo Equities. The deal value was undisclosed.
Built in 1998, the property is 90% occupied by eight tenants. In 2015, the asset underwent a $2.2 million renovation that included the addition of a state-of-the-art conference center, tenant lounge and new landscaping and hardscape.
NKF’s Kevin Shannon, Paul Jones, Sean Fulp, Blake Bokosky and Brandon White, represented the seller. The buyer was self-represented.
Shannon, NKF’s Co-Head of U.S. Capital Markets, says, “Approximately one-half of all commercial sales involve private capital, and the ability to access this important source of capital is critically important on smaller sales like this asset, but it is also frequently useful in larger sales as well.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
