Foothill Corporate Centre I — 27042 Towne Centre Drive • Foothill Ranch, California 92610
Kingsbarn Real Estate Capital is pleased to present the opportunity to acquire a rare, institutional-quality, multi-tenant office building containing ±83,218 rentable square feet located in the master-planned community of Foothill Ranch. The property is currently 85% leased to seven tenants with well-staggered lease expirations.
The Property is a Class A office building featuring an abundant total surface parking ratio (approximately 4.0/1,000 RSF), that underwent a $2.2-million capital campaign in 2015 which included the addition of a state-of-the-art conference center and tenant lounge, new landscaping and hardscape. Office buildings of this scale and quality rarely come to market, especially in the highly sought-after South Orange County submarket.
The Property offers a strong, secure and growing income stream well into the future with fixed annual rental increases and nearly 75% of the rental stream not expiring until 2022 or beyond. 27042 Towne Centre has a favorable weighted average lease term of approximately 7.0 years remaining. Further upside can be achieved by the lease-up of the remaining vacancy of 16,936 square feet.
The Property is valued below the estimated replacement cost of $425 per square foot and at a discount to peak market sale comparables.
Foothill Corporate Centre I Major Tenants
Orange County Market Overview
Orange County continues to benefit from a well-diversified economy, high-quality labor force, direct access to major airports and other public transportation, and strategic location on the Pacific Rim. The vibrant economy, along with the area’s tremendous residential desirability, access to high-quality education and recreation, and its cultural base, provide an excellent location for commercial properties.
Major employers in Orange County Include Disney, UCI Medical Center, St. Joseph Health, Kaiser Permanente & Boeing.
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All investment transactions are handled and cleared through First American Title Company, National Commercial Group.
Contact us about this investment opportunity at 424.343.9000