Updated May 12, 2025
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
About this deal
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