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21098 Bake Parkway

Updated May 12, 2025

Bilt advertisement
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

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:

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

$2.9B

vol

40 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

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