Canadian Buyer Scoops Ocean Plaza in Huntington Beach

Canadian-based investor Onni Group has purchased Ocean Plaza, an 8.6-acre mixed-use complex in Huntington Beach, for $97.3 million from Decron Properties. The sale is part of Decron’s strategy to divest from office assets in California.

Ocean Plaza has office and retail space. The property features a 207,645-square-foot, 14-story class-A office tower and 108,785 square feet of retail and restaurant space. In addition it has a six-level parking garage accommodating 863 automobiles.

The Cushman and Wakefield team led by executive vice chairman Marc Renard represented Decron Properties in the transaction.