Institutional Property Advisors Closes Mixed-Use Office Campus in Orange County California
September 05, 2024
COSTA MESA, Calif., Aug.--, 2024 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of The Baker Collective, a four-building mixed-use office campus in Costa Mesa, California.
“The property is a 100% occupied triple-net-lease asset that has been completely renovated to provide the new owner with minimal capital expenditures and stable cash flows,” said Mark DeGiorgio, IPA senior director.
Easily visible and accessible from Interstate 405, State Route 55 and State Route 73, the property is located at the corner of Baker and Bristol, near the South Bristol Entertainment & Cultural Arts district (SOBECA). There are over 50 restaurants, breweries, wineries, two hotels, and health and fitness options within walking distance. The South Coast Plaza shopping mall and John Wayne Airport are nearby.
Built in 1975 and renovated in 1999, 2019-2023, The Baker Collective serves as the headquarters for Zoomer Intelligence. Western Lighting and Bright Event Rentals utilize the property as their Orange County showrooms and MemorialCare, an Orange County-based healthcare system, provides primary and urgent care from its suite. The tenant roster also features CAS Biosciences, PV Labels, Ledcor Group, and The Levy Group.
“The property is a 100% occupied triple-net-lease asset that has been completely renovated to provide the new owner with minimal capital expenditures and stable cash flows,” said Mark DeGiorgio, IPA senior director.
Easily visible and accessible from Interstate 405, State Route 55 and State Route 73, the property is located at the corner of Baker and Bristol, near the South Bristol Entertainment & Cultural Arts district (SOBECA). There are over 50 restaurants, breweries, wineries, two hotels, and health and fitness options within walking distance. The South Coast Plaza shopping mall and John Wayne Airport are nearby.
Built in 1975 and renovated in 1999, 2019-2023, The Baker Collective serves as the headquarters for Zoomer Intelligence. Western Lighting and Bright Event Rentals utilize the property as their Orange County showrooms and MemorialCare, an Orange County-based healthcare system, provides primary and urgent care from its suite. The tenant roster also features CAS Biosciences, PV Labels, Ledcor Group, and The Levy Group.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.