The new owner is a group of tenant-in-common investors represented by Triple Net Properties LLC of Santa Ana, which will manage the asset. None of the parties involved have yet to release the sale price and could not be reached Tuesday afternoon for comment.
Britannia Business Center II is a 276,210-sf property consisting of three office buildings. The complex is 94% leased to four tenants. Britannia Business Center III is a 191,009-sf three-building property that is 94% leased by nine tenants.
Michael Leggett of Cornish and Carey represented Slough Estates. Steve Corea, Triple Net's SVP of acquisitions, represented the TIC group. Acquisition financing was provided by Wachovia Securities and was arranged by Brad Zampa and Matt Gum of Cornish and Carey.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.