Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ANAHEIM, CA-Seligman Western Enterprises of Michigan has acquired the five-building, 301,159-sf Anaheim Corporate Plaza office project from Rreef for $68.2 million, according to Voit Commercial Brokerage. Louis Tomaselli of the Anaheim Metro office of Voit tells GlobeSt.com that the property, which occupies a 13.9-acre site in the Platinum Triangle area of Anaheim, drew more than 10 offers from prospective buyers.Tomaselli and Mitch Zehner of the Anaheim Metro office of Voit brokered the sale on behalf of Rreef, which had owned the property since 2002, and the Voit brokers also represented the buyer. The property drew broad interest from prospective buyers, including both institutional and private investment groups, both of which remained very competitive in their offers throughout the final bidding, Tomaselli notes.The buyer’s new asset is described by Tomaselli as “a pedestrian-friendly location in the center of a new high-density residential urban environment.”The Platinum Triangle is planned for up to 9,175 housing units, five million sf of office space more than two million sf of other commercial uses. Anaheim Corporate Office Plaza, which was built in phases from the late 1970s through the early 1980s, is located at 2121-2190 Towne Center Place and 2390 East Orangewood Ave. The five buildings, which were 96% occupied at the time of the sale, include one of five stories and four of three stories.Buyer Seligman Western Enterprises manages California properties for Southfield, MI-based Seligman & Associates. Seligman Western, which maintains offices in Century City and San Francisco, owns apartments and commercial properties throughout the state.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.