Aaron Talarico Of ParkTerra And Reuben Leibowitz Of JEN Partners Acquire Office Asset In Anaheim For $62.5M

The property asset involved in this transaction is an office facility located at 2121-2170 Towne Centre Place, 2190 Towne Centre Place & 2390 Orangewood Avenue in Anaheim. The sale price of the property was $62,500,000, with a total square footage of 306,664, resulting in a price per square foot of $204. The sale represents a notable transaction in the Anaheim market.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $62,500,000
• Buyer: Aaron Talarico - ParkTerra
• Buyer: Reuben Leibowitz - JEN Partners
• Seller: Kevin Hayes - Pendulum Property Partners
• Brokers: Anthony DeLorenzo - CBRE
• Brokers: Sammy Cemo - CBRE
• Brokers: Bryan Johnson - CBRE
• Brokers: Greg Sullivan - CBRE
• Brokers: Jennifer Whittington - CBRE
• Brokers: David Dowd - CBRE
• Brokers: Matt Didier - CBRE

ParkTerra and JEN Partners acquired the Axis business park in Anaheim. The acquisition reflects ongoing market shifts in the region, as this sale was nearly 25% below its 2018 sale price. The new owners are considering various redevelopment options, including the possibility of office-to-residential conversions adjacent to Angel Stadium.