Updated Dec 29, 2025
Michael Rademaker Of MGR Real Estate Acquires Orange City Square Office Park For $89M
840 The City Drive South
$89,000,000
Building Size
—
Asset Type
Office
Closing
Dec 23, 2025
About this deal
AI
The property asset involved in this transaction is the Orange City Square office park, located at 750–840 The City Drive in Orange, California. The asset consists of Class A office and retail space, emphasizing its strategic position next to the UC Irvine Medical Center employment hub. The sale price for this transaction was $89 million.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $89,000,000
- Buyer: Michael Rademaker - MGR Real Estate
- Seller: Will Hendrickson - Granite Properties
- Market: Orange
This deal was facilitated by MGR Real Estate, which further expands its existing Southern California office portfolio through the acquisition of this property. Will Hendrickson represents Granite Properties in this transaction.
On the Map
$89,000,000
Office
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Orange Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93