Shea Properties announced the sale of one of the three remaining buildings at Town Center Corporate Park in Aliso Viejo. The 53,115 square-foot office building, located on the corner of Aliso Viejo Parkway and Pacific Park Drive, was sold to Intercap Lending and its affiliates.
“We chose the Aliso Viejo location for many reasons,” said Ron Harsini, Chairman of Intercap, “but mainly because of the easy access to the toll roads for our employees and the wide range of amenities, including food and entertainment options located in Aliso Viejo. We are glad to be a part of this community.”
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“Shea Properties sees the sale of Town Center Corporate Park as part of a selective and disciplined sales program within its portfolio,” said Brian Meihaus, Regional Vice President of Shea Properties. “The goal of this program is to create a balanced portfolio of office, industrial, retail and multi-family assets.”
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Town Center Corporate Park was originally built by Shea Properties in 2000 as a five-building flex-office campus. One building was sold early on, and in February of last year, Q-Logic purchased the 33,915 square-foot 26840 building. After the recent sale to Intercap, only two buildings remain for sale, 26940 (33,914 SF) and 26970 (38,716 SF). Both provide large, efficient floor plates that lay out well for smaller, multi-tenant users or larger single-occupancy users.
Newmark Grubb Knight Frank brokers Doug Mathews and Gary Allen, along with PM Realty Group’s Tim Joyce, arranged the transaction on behalf of Shea Properties. The sale price was not disclosed.
“Gary Allen, Doug Mathews and Tim Joyce were instrumental in completing the sale here at Town Center Corporate Park,” said Meihaus. “We have been working with this team for over 10 years, and it has been a very successful partnership.”
Town Center Corporate Park is served by the Aliso Viejo Town Center offering a wide variety of shops and restaurants including Opah’s, Chili’s, Macaroni Grill, Wahoo’s, Staples, Barnes & Noble and more. In addition, a brand new Marriott Renaissance ClubSport hotel and fitness facility sits just up the street, and access to the 73 Toll Road or the 5 and 405 Freeways is easy and convenient.