ORANGE, CA—The Abbey Co. has sold theCity Parkway Collection, a two-building, class-Aoffice portfolio at 500 and 600 CityParkway West here, to Greenlaw Partnersfor approximately $45.5 million. The 269,395-square-foot portfoliois roughly 83% occupied by a mix of national and regionallyrecognized tenants across a wide range of industries.
Kevin Shannon, Ken White, Scott Schumacher, Bob Smith,Paul Jones and Blake Bokosky ofCBRE's institutional properties group, as well asGary Stache, Pat Scruggs and AnthonyDeLorenzo of CBRE's investment properties group,represented the seller in the transaction. Information about whorepresented the buyer was not readily available.
The office project sits on 7.85 acres of land and consists of afour-story office building developed in 1978 and renovated in 2002,as well as a10-story office building developed in 1978 andrenovated in 2002. According to Smith, “The portfolio will continueto benefit from its location and improving marketfundamentals.”
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
