Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(Read more on the debt and equity markets .)

BREA, CA-Burke Real Estate Group of Costa Mesa has landed a construction loan of nearly $14 million via Wrightwood Capital to build the Burke Puente Business Center, a 70,380-sf office flex park that is the latest in a long line of Burke developments targeting that market. The Burke Puente Business Center is a planned multi-tenant complex that will feature three single-story buildings on a site of nearly four acres on the northwest corner of Puente and Pioneer streets.

Burke plans to demise the buildings into 18 office flex condominium units that will range from 2,613 sf to 7,956 sf, according to Chad Froman, associate director in Wrightwood Capital’s Newport Beach office. Froman cites the property’s proximity to Downtown Brea and the Brea Mall among the amenities serving the site, where Burke plans to begin construction of the office park soon.

The development site is near State Route 57 and the Imperial Highway, both major traffic arteries, in an area with limited competition, Froman adds. He notes that the financing represents the eighth transaction between Wrightwood Capital and Burke.

Each of the units at Burke Puente Business Center will feature 22-foot clear heights, roll-up loading doors and a high level of office finishing, including a reception area, an office, a coffee bar and mezzanine space. The project follows other Burke developments in Orange County that include the Costa Mesa-based company’s Monarch Corporate Center in Costa Mesa, for which Wrightwood arranged more than $9.8 million in acquisition and construction financing last year.

In another Burke project in Garden Grove, Wrightwood provided a $7.9-million loan that covered the acquisition and construction costs of the 37,842-sf Orangewood Office Building. That project is a two-story steel frame building conversion into office condominiums.

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.