Matt Waken Of MW Investment Group Acquires Office Building In Brea For $27.9M

The property involved in the transaction is an office asset located at 675 Placentia Avenue in Brea, CA. The acquisition price for this asset was $27,900,000. The property encompasses 135,308 square feet and is situated on 7.38 acres of land.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $27,900,000
• Address: 675 Placentia Avenue
• Market: Brea, CA
• Square Footage: 135,308
• Price per Square Foot: $206
• Buyer: Matt Waken - MW Investment Group
• Seller: Pennsylvania Municipal Retirement System
• Brokers: Anthony DeLorenzo, Sammy Cemo, Bryan Johnson & Jackson Marlow - CBRE
• Lender: Zions Bank
• Mortgage Brokers: Shaun Moothart & Andrew Post - CBRE

The transaction sees Matt Waken representing MW Investment Group as the buyer, acquiring the property partially leased at 70.5%. The financing for this acquisition included a loan from Zions Bank amounting to $17.8 million. Additionally, this deal reflects a decrease from the $33.8 million price paid in 2016 for the property.