June 28, 2021 9:00 AM
星空体育app下载 announces it has arranged the sale of AD/6, formerly Deere Alton Business Park. The repositioned, six-building corporate office complex in Santa Ana, CA sold for $42.8 million.
星空体育app下载鈥檚 Co-Head of U.S. Capital Markets Kevin Shannon, Executive Managing Directors Paul Jones and Sean Fulp, Managing Director Mark Schuessler and Senior Associate Brandon White represented the seller, Preylock Holdings. The buyer was Henghou Investment Holding, Inc., headquartered in Zhejiang, China.
鈥淎D/6 is a stable, incoming-producing property that is well positioned for the buyer to capitalize on growth-oriented companies looking for space at an attractive market rent,鈥� said Jones. 鈥淭his sale is indicative of a notable increase in foreign capital, like Henghou Investment Holding, Inc., acquiring office assets throughout Southern California, and the Western U.S.鈥�
The property, located at 1920, 1924, 1928, 1932, 1936 and 1940 East Deere Avenue, consists of six, recently repositioned corporate office buildings totaling 188,714 square feet. The property is currently 87% leased to a diverse mix of local and nationally recognized tenants. Each building features contemporary interior finishes, renovated common area corridors, expansive window lines providing ample natural light, tall ceiling heights, high corporate visibility and abundant surface parking.
The Greater Airport Area submarket鈥檚 accessibility throughout the greater OC Metro, coupled with the presence of John Wayne Airport, has continued to attract a highly educated and skilled workforce. The average asking rent has experienced healthy growth year-over-year, all things considered with the impact of COVID-19. Space inquires are increasing, and many tenants plan a phased return to the office in the second half of 2021. Vacancy will remain at elevated levels in the near-term as the construction pipeline continues to deliver, but sizeable move-ins will help the market return to equilibrium later this year, according to 星空体育app下载 Research.
About Preylock Holdings
Preylock Holdings is a real estate investment firm that owns and operates more than $3 billion in AUM including 3.5 million SF of office and 4.2 million SF of industrial. The firm is headquartered in Los Angeles and was founded in 2016. For more information, please visit .
About 星空体育app下载
星空体育app下载 Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (鈥溞强仗逵齛pp下载鈥�), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Our comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, growing startups to leading companies. In 2020, 星空体育app下载 generated revenues in excess of $1.9 billion. 星空体育app下载, together with London-based partner Knight Frank and independently owned licensees, operates globally from approximately 490 offices with 19,300 professionals. To learn more, visit nmrk.com or follow .
Discussion of Forward-Looking Statements about 星空体育app下载
Statements in this document regarding 星空体育app下载 that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, 星空体育app下载 undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see 星空体育app下载’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.