Sourcing Value-Add Properties in OC

Placek: “The biggest challenge we find by far is timing.”

NEWPORT BEACH, CA—It has become difficult over the years to source strategic real estate investments in the Orange County market, but it helps to have unique, thorough knowledge of the site and a few other arrows in your quiver, Shopoff Realty Investments’ EVP Dave Placek tells GlobeSt.com. The firm, a national manager of opportunistic and value-add real estate investments, recently acquired a three-story, 44,434-square-foot office building at 4440 Von Karman Ave. here, for $15.4 million from what Real Capital Analytics reports was Canopi LLC.

Placek says his firm is “employing our strategic plan to actively lease up the property and to increase rents that are currently below market rates. With high market occupancy, upward momentum on rental rates and an attractive location, this asset is well positioned to be stabilized in the near future.”