Dwight Manley Acquires 164908 Square Foot Office In Brea From Mercury Casualty Company For $31.5M

A 164,908-square-foot office building located at 1698-1700 Greenbriar Lane in Brea, California, was sold for $31.5 million. The property sits on 9.7 acres and was marketed as a redevelopment opportunity. The sale price equates to $191 per square foot. This transaction represents the largest commercial sale in Brea/La Habra over the past year.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $31,500,000
• Location: 1698-1700 Greenbriar Lane, Brea
• Market: Brea
• Square Footage: 164,908
• Price per Square Foot: $191
• Buyer: Dwight Manley
• Seller: Mercury Casualty Company
• Brokers: Gary Goodgame & Max Browne - Kennedy Wilson; Jeremy Dee - Corporate Realty Associates
• Acres: 9.7

The transaction involved Dwight Manley-affiliated Greenbriar Lane, LLC purchasing the office building from Mercury Casualty Company. The property is set to be transformed into 180 residential units, indicating a significant shift in its use from commercial to residential development.