26840 Aliso Viejo Parkway, a two-story, creative office building recently sold for $11,760,000 ($347 PSF).
This is the second sale deal in Aliso Viejo executed by Wind Water Realty within a two-week span.
At the time of the sale, the property was 30% occupied with two tenants. The buyer, Seabreeze Management Company, Inc., a property management company, was expanding and looking for an owner-user opportunity.They will occupy the remaining vacant space, Suite 100 (6,628 square feet) and the entire second floor (17,288 square feet), for a total of 23,916 square feet.
The 33,915 square foot office building recently received $1M in exterior and interior renovations, which attracted the buyer to make an offer.
The seller, Kelemen Caamaño Investments, acquired 26840 Aliso Viejo Parkway in 2015 as a value-add opportunity, and wanted to reposition the property into a contemporary work environment. The goal was to meet the needs of a new generation of businesses, and to supply the demand for modern workspaces in Aliso Viejo.
Built in 2000, the building is a part of the Town Center Corporate Park. Kelemen Caamaño Investments owns a second building in the office park, 26940 Aliso Viejo Parkway, which also was renovated into a creative workspace and is 100% leased.
During this transaction, Kelemen Caamaño Investments was represented by Rob Rader of Wind Water Realty. Seabreeze Management Company, Inc., was represented by Brett Lessman and Will Tober of Hughes Marino.
For more information on additional creative redevelopment projects in Orange County, visit www.KCIcompany.com.
If you're looking for modern workspaces to meet your business needs, please visit the Properties page.