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Hines Exits Brea Office Asset

The investor sells an office asset in Brea, California, for $376 per square foot to Crowne Pointe Equity.

Hines has sold an office asset in Brea, California, to Crowne Pointe Equity for $376 per square foot, or a total of $17 million. The property totals 45,158 square feet.

Located at 130 S. State College Blvd. in North Orange County, the property is two stories and is newly renovated. The campus features on-site amenities, freeway frontage and is in proximity to the 1.3 million-square foot Brea Mall. Pacific Western Bank currently occupies 100% of the building and has been a tenant since 2009.

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Kelsi Maree Borland

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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