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840 The City Drive South

Michael Rademaker Of MGR Real Estate Acquires Orange City Square Office Park For $89M
SOLDOffice

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

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.

Players

Michael Rademaker

MGR Real Estate

Buyer

$350.7M

vol

5 deals

Buyer
MGR Real Estate
MGR Real EstateBuyer

Will Hendrickson

Granite Properties

Seller

$89M

vol

4 deals

Seller

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