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21098 Bake Parkway

Buchanan Street Partners Acquires Spectrum Centre Business Park In Lake Forest For $XX Million
SOLDIndustrial

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:

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

Jeff Chiate

Cushman & Wakefield

Broker

$2.8B

vol

39 deals

Broker

Matt Haugen

Buchanan Street Partners

Buyer

3 deals

Buyer
Buchanan Street Partners
Buchanan Street PartnersBuyer

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