FOOTHILL RANCH, CA—CBRE has brokered the sale of the Campus South County, a class A, 288,348 square-foot, three-building office campus located at 27042, 27051 & 27121 Towne Centre Drive.  An affiliate of Menlo Equities purchased the buildings from MetLife. Kevin Shannon, Paul Jones, Bob Smith and Blake Bokosky of CBRE's Institutional Properties Group represented the seller in the transaction.

“The Campus South County is 58% leased to a unique mix of creative and tech-driven tenants,” said Jones, a vice president in CBRE's Newport Beach office. “This compelling tenant mix, combined with the property's strategic location and value-add positioning, fueled tremendous interest and resulted in more than a dozen offers from quality capital.”

Developed in 1999 and situated on a total of 18.4 acres, the property consists of three, two-story office buildings featuring large floor plates and above standard parking.  A 2014 renovation project included the addition of a state-of-the-art conference center, a tenant lounge and a Wifi-enabled, outdoor meeting area.

Fronting the Foothill Transportation Corridor (SR-241), the Campus South County is in immediate proximity to the Foothill Ranch Towne Center, one of the largest power centers in Orange County with more than one-million square feet of retail and service amenities. It also offers convenient access to the Irvine Spectrum retail and entertainment center, as well as to the John Wayne Airport.

“Investment capital is attracted to Orange County because of the comparative basis advantage compared to other coastal markets and the dramatic disparity that still exists between today's rents and values versus peak rents and values. Orange County has more upside potential than most coastal markets because of these dynamics,” said Shannon, who leads CBRE's West Coast Institutional Group for the office sector.

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