CBRE negotiated the $32-million sale of Mission Ridge, a twin multi-tenant, four-story office building located at 27101 and 27201 Puerta Real in Mission Viejo, to Barker Pacific Group and Kingsbarn Realty Capital. A CBRE Investment Properties team of Sean Sullivan, Todd Tydlaska, Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Grant Goldman represented the institutional seller.
“We were privileged to handle this sale and pleased that we could identify a buyer that appreciates the location, quality, and potential of Mission Ridge,” said Sullivan. Added DeLorenzo, “The offering drew substantial interest from the investment community, having received over 10 offers, and an extremely competitive best and final bidding process.”
Greg Grant with CBRE’s Debt & Structured Finance team sourced acquisition financing. Located on 10.28 acres, the 233,531-square-foot office building was built in the early 2000s and renovated in 2021. The renovations include new lobbies, refreshed restrooms, a new conference center and tenant lounge, and a refreshed fitness facility with showers and locker rooms.
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