Swift Realty Nabs Prime Orange County Asset
- Jun 21, 2016
Newport Beach, Calif.–Fountain Valley Plaza, an upscale office campus in Orange County is Swift Realty Partners’ latest acquisition. The company was represented by the NGKF Capital Markets team consisting of Paul Jones, Kevin Shannon, Blake Bokosky and Scott Selke. The same team represented seller Equity Office Properties Trust in the transaction.
Located at 10540 Talbert Ave. in Fountain Valley, the multi-tenant asset offers 107,407 square feet of space. Fountain Valley Plaza offers two three-story buildings and occupies a 4.6-acre lot near the 405 in the John Wayne Airport submarket of Orange County. As NGKF West Coast Capital Markets President Kevin Shannon pointed out, “Orange County is a great basis market at this point in the cycle.”
Completed in 1981, the campus last went through an extensive renovation in 2015. The buildings offer 17,800-square-foot floorplates, glass exterior, significant signage on the 405 and Talbert Avenue, as well as 428 parking spaces.
According to real estate data provider Yardi Matrix, the property was previously acquired by Equity Office Properties Trust from Hines, as part of a portfolio sale in 2012.
Image courtesy of Yardi Matrix