Office Sells for Second Highest Price Per Foot

MISSION VIEJO, CA—GlobeSt.com has learned exclusively that CK HighPark LLC has purchased HighPark Corporate Center, a 37,579-square-foot class-A office building at 23341-23361 Madero here, for $6.7 million from Madero LLC & Wyocal LLC. The $177-per-square-foot price tag represents the second-highest square footage price for an office building sale in Mission Viejo since the recession.

As GlobeSt.com reported in September 3013, Prudential Real Estate Investments sold Mission Ridge, a two-building-class-A project that fronts I-5, for an undisclosed amount to Cornerstone Real Estate Advisors. We have since learned that the price for that transaction amounted to approximately $237 per square foot.