A joint venture between Greenlaw Partners and its institutional partner has sold Stadium Centre, a six-story, 122,080-square-foot, multi-tenant office property at 2099 South State College Boulevard in Anaheim, California, to a private-equity firm, according to a release from a representative of NKF Capital Markets. The sale price for the 98 percent occupied building was $28.8 million, the release says.
Stadium Centre was built in 1985 and is situated on 3.64 acres. According to the release, the property features high ceilings, high-end finishes, and more than 450 parking spaces. Tenants include State of California EDD, Anaheim Visitors Bureau, Wells Fargo, Gexpro, Securitas, and Rolf.
The Statement also says NKF Capital Markets executive managing director Paul Jones, co-head of U.S. capital markets Kevin Shannon, managing director Blake Bokosky, executive managing director Brunson Howard, and senior associate Brandon White represented the seller in the transaction, while the buyer was self-represented.
Jones is quoted in the release as saying, “Stadium Centre is a very well-located mid-rise office building that has had a historically high occupancy and will continue to benefit from all the new multifamily urban development throughout the Platinum Triangle.”
The statement says the project is close to Angel Stadium, Honda Center, and the National Grove of Anaheim, is within walking distance of retail shops and restaurants, and is less than one mile from the Outlets at Orange, an 806,000-square-foot outdoor dining, shopping, and entertainment destination.
The sale represents another high-profile SoCal office transaction for NKF Capital Markets this year. Most recently, as SoCal Real Estate reported, the firm represented Sunroad Enterprises in the sale of Sunroad Corporate Center, a three-building 302,289-square-foot office property in the University Town Center (UTC) submarket of San Diego, to The Irvine Company, according to a release from a representative of NKF Capital Markets sent to us exclusively. While NKF Capital Markets did not report the sales price, sources unrelated to the deal reported that it was $180 million.