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Andrew Kurzeka Kurzeka: ““The transaction demonstrates the continued flow of private capital into commercial real estate since it offers current income, wealth preservation and long-term capital appreciation.”

CYPRESS, CA—The sale of Cypress Crossroads here to a private investor demonstrates that private-exchange buyers have emerged as more aggressive buyers than some of the more traditional institutional ones, Dornin Investment Group principal Andrew Kurzeka tells GlobeSt.com. The firm recently sold the multi-tenant office building to a private investor for $24 million, marking the third disposition for DIG this year as it continues to capitalize on the availability of private-exchange buyers in the market.

DIG acquired Cypress Crossroads in 2014 as a lender-owned, value-add opportunity centrally located in Orange County. Built in 1987, the property contains 106,341 square feet of office space on a 4.2-acre site.  Occupancy at acquisition was 74% and was increased to 89% at the time of sale. The largest tenant, Premier Health Plan, which leased 22,387 square feet in August 2016, recently executed a 13,000-square-foot expansion, which will bring occupancy to 92%.

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Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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