Private Investor Snags Brea Offices for $28M

CBRE facilitated the $27.8-million sale of Fairway Center II, a 135,308-square-foot office property located at 675 Placentia Ave. in Brea. CBRE represented the institutional seller. The Whittier Comstock, LLC, a subsidiary of MW Investment, LLC and owned by Matt Waken, acquired the property.

CBRE’s Anthony DeLorenzo with National Office Properties, along with Sammy Cemo, Bryan Johnson and Jackson Marlow, represented the seller. Shaun Moothart and Andrew Post of CBRE’s Debt & Structured Finance practice secured the financing for the buyer.

“Fairway Center II attracted significant interest amongst the investment and owner/user community alike,” said DeLorenzo. “We received multiple competitive offers from a variety of buyer profiles and awarded the property to a private investor within the first 30 days of marketing.”

The property was 70.5% leased at the time of the sale. The property is anchored by the County of Orange, which occupies more than 61,000 square feet under a long-term lease.

Inside The Story

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Order Reprints