Is the West Coast Too Long in the Tooth for Investors?

Phil Cyburt and Anthony Westreich are working on the company’s West Coast expansion.

LAGUNA HILLS, CA—Some debt and equity lenders feel that the West Coast has been on an upswing for too long, but there’s a big capital push on the region where the sentiment is that the market is still growing and companies are relocating there, Monday Properties managing partner Phil Cyburt tells GlobeSt.com. In a deal  that marks the firm’s first major acquisition on the West Coast since hiring Cyburt in February to spearhead its expansion, Monday recently acquired Spectrum Tower, a seven-story 120,000-square-foot multi-tenant office building located at 23046 Avenida de la Carlota here from TA Realty for $27.5 million.

Spectrum Tower is a class-A building that features surface parking with great visibility and access to the 5 and 405 freeways. The property is centrally located and served by the amenities within Irvine Spectrum. The 113,489-square-foot property includes such tenants as Citizen Business Bank, Virginia Landry law offices, Regus, William Jordan Investments and STRADA Capital Corp.  CBRE’s Anthony DeLorenzo, Bob Smith, Todd Tydlaska and Sean Sullivan represented the seller, while Brad Zampa and Shaun Moothart of CBRE Capital Markets Debt & Structured Finance secured the financing for Monday Properties.