LaSalle Makes Value-Add Office Play in OC

LaSalle Investment Management has acquired 4 Hutton Centre, a 216,864-square-foot office building in the Airport submarket of Orange County, for an undisclosed price. The firm acquired the property through its value-add fund series LaSalle Income & Growth.

Located in the Hutton Centre mixed-use campus, the class-A office building is 80% occupied by 21 tenants. It was last updated in 2012, and has significant opportunity to drive value through repairs and leasing.

LaSalle Investment Management plans to add tenant amenities, upgrade the lobby and lease-up the property to further position the property as a class-A office building.