NAI Capital Completes $7.3M Multitenant Office Investment Sale in Anaheim, CA
Los Angeles, CA – October 8, 2019 – Vice President Rosaleen O’Sullivan with NAI Capital's Investment Services Group completed the investment sale of a 43,202 square foot class B office building in Anaheim, California. Rosaleen represented the buyer, a private investor. The seller was Hancock Office Anaheim LLC. The property sold for $7.3M or $169/SF.
The Hancock Office Plaza is a two-story multitenant office building located at 1290 N Hancock St. It was built in 1986 and renovated in 2017. The Hancock Office Plaza sits on a 2-acre parcel and features a parking ratio of 4 stalls per 1,000 SF. The Hancock Office Plaza was 100% leased to eleven tenants ranging in size from 659 to 10,947 square feet. Recent renovations included common areas, the exterior with drought tolerant landscaping, polished concrete, LED lighting, and restrooms.
Rosaleen said, “This is an outstanding opportunity for my client to purchase a value-add, two-story office building with tremendous upside potential. The building is occupied by long term stable tenants, with renewing leases, that will create additional income and value.” Rosaleen added, “My client purchased this property through a 1031 exchange, significantly increasing their annual cash flow.”
About NAI Capital
NAI Capital is the largest independently owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, the premier managed commercial real estate service network with 375 Offices and 6,000 market leaders spanning the globe, NAI Capital provides a complete range of transaction, valuation, investment, property management and consulting services. By leveraging our local expertise with our global reach, NAI Capital offers innovative, customized solutions and seamless service to owners, tenants, investors and developers throughout Southern California. NAI Capital clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital we work together putting our clients first.
NAI Capital Brokerage CA BRE #01990696.
To learn more, visit www.naicapital.com.
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 375 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 6,000 local market professionals, managing in excess of 1.15 Billion square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.
To learn more, visit www.naiglobal.com.
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