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.

CBRE’s Anthony DeLorenzo, Gary Stache, Doug Mack, Rick Warner and Chip Warner represented the seller, Hines.

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