Buchanan Street Partners Acquires Spectrum Centre Business Park In Lake Forest For $XX Million
21098 Bake Parkway
Building Size
227,757 SF
Asset Type
Industrial
Closing
Apr 8, 2025
AI
Buchanan Street Partners acquired the 227,757 square feet industrial asset located at 20902-21098 Bake Parkway in the Lake Forest market. The property consists of 16 buildings and spans nearly 17 acres. It is currently 80% leased, aligning with the company's focus on infill industrial assets in high-demand Orange County submarkets.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Square Footage: 227,757 SF
- Address: 20902-21098 Bake Parkway
- Market: Lake Forest
- Acres: 17
- Buyers: Timothy Ballard, Robert Brunswick & Matt Haugen - Buchanan Street Partners
- Brokers: Aubrie Monahan, Jeff Chiate, Matt Leupold & Rick Ellison - Cushman & Wakefield
Cushman & Wakefield facilitated the transaction, supporting Buchanan Street Partners in acquiring this asset consistent with their strategy to target prime industrial locations within high-demand areas. The involvement of multiple brokers indicates a collaborative effort in securing the deal.
Players
Lake Forest Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93