Lincoln Property Company Acquires Large Orange County Portfolio Totaling Nearly 400,000 Square Feet of Office Space

LPC West, the West Coast arm of national real estate firm Lincoln
Property Company, along with partner Angelo Gordon, has acquired a
six-property portfolio of Class B, mid-rise office buildings in North
and South Orange County from the Colton Company. The deal, led by the
Orange County branch of LPC West, exemplifies the company’s expanded
real estate investment activities in the region.

The portfolio of Class B office properties encompasses nearly 400,000
square feet in key Orange County office markets including Anaheim,
Orange, Laguna Hills, and Lake Forest. Together, the buildings are more
than 85 percent leased to a diverse tenant base spanning industries from
medicine and law to media and finance.

LPC West plans to renovate the portfolio with upgrades to common areas,
building lobbies, exterior areas and base building systems.

North Orange County properties include 2300 E. Katella, Anaheim; 3111
N. Tustin, Orange; and 765 The City Drive, Orange. The South
Orange County properties include 23041 Avenida de la Carlota, Laguna
Hills; 23161 Mill Creek Drive, Laguna Hills and 23101 Lake
Center Drive, Lake Forest.

“The Class B office market continues to shrink in Orange County as
landlords either invest significant capital and reposition to Class A
creative space, or tear down and convert to residential,” said Anthony
Zegers, Vice President of LPC West. “That dynamic, along with high
demand for Class B office space, has created a niche that we find very
attractive.”

With regional access from several major freeways including the 5 and the
405, as well as John Wayne Airport, Orange County has established itself
as a major business hub in California. The area currently enjoys low
unemployment rates compared to the rest of the state and the country,
cementing the need for a diverse stock of office space.

“The properties span dynamic markets in both North and South Orange
County and represent an in-demand class of office space,” said Parke
Miller, Executive Vice President of LPC West for the Orange County
region. “We are looking forward to leasing vacant space in the buildings
and making improvements that will keep this group of strategically
located office buildings desirable for years to come.”

The acquisition follows several major LPC West projects underway in
Orange County. Last year, LPC West and Angelo Gordon acquired a
portfolio of four office properties totaling 540,000 square-feet in the
John Wayne Airport submarket. Construction is also nearing completion at
FLIGHT at Tustin Legacy, a 38-acre creative office campus encompassing
nearly one million square feet within the master-planned community of
Tustin Legacy.

Bob Smith with CBRE represented the seller in the transaction.

About Lincoln Property Company

Lincoln Property Company, founded in 1965 by its chairman Mack Pogue, is
a privately-owned real estate firm involved in real estate investment,
development, property management and leasing worldwide. Lincoln has
offices in all major markets of the U.S. and throughout Europe.
Lincoln’s cumulative development efforts have produced over 130 million
square feet of commercial space and over 212,000 multifamily residential
units. Lincoln Property Company is the second largest apartment manager
in the United States.

Access www.lpcwest.com
for more information.

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