SAN JUAN CAPISTRANO, CA—Westcore Executive Center, a 115,517-square-foot office campus here is being brought to market by Cushman & Wakefield.
The property, located at 29122 and 29222 Rancho Viejo Road, is 85% leased to a total of 72 tenants – a diverse group of industries including law firms, investment management, insurance and technology companies.
Built in 2007, the campus is comprised of two executive office buildings situated on 11.14 acres of land. It is located at the intersection of Interstate 5 and the 73 Toll Road, near the Avery Parkway exit. Sources say it is expected to bring about $25 million.
“South Orange County is a rapidly tightening submarket. It currently has a vacancy rate of 11.7%, which is the lowest vacancy in the county,” said Jeffrey Cole, executive director with Cushman & Wakefield. “This property provides a potential owner with the opportunity to purchase a newer office campus with a stabilized and diverse tenant mix, right off the 5 freeway.”
The buildings at Westcore Executive Center feature central atriums, 328 surface parking stalls and freeway frontage/visibility along Interstate 5. On-site amenities include high-speed broadband fiber capability, electronically-controlled building access, independently controlled HVAC systems, outdoor Wi-Fi and common area conference rooms. Each suite is separately metered for utilities.
The property’s two buildings are situated on separate parcels allowing for the future sale of individual buildings to users or investors.