December 21, 2022

LAGUNA HILLS, CALIF. — Newport Beach-based Buchanan Street Partners has purchased Oakbrook Plaza, an office building located at 24422 Avenida De La Carlota in Laguna Hills. A New York City-based fund manager sold the property for $28.1 million in an off-market transaction.

Newport Beach, CA-based real estate firm Buchanan Street Partners has acquired Oakbrook Plaza, a four-story, 120,000-square-foot office property in Laguna Hills, CA. The firm is purchasing the building, located at 24422 Avenida De La Carlota, from a New York-based fund manager for $28.1 million. The asset is 66% occupied, but was averaging 95% occupancy pre pandemic. The zoning allows for many investment strategies, including medical office space as well as multifamily, which has seen increased development in the region.

Buchanan Street Partners paid $28.1 mil for Oakbrook Plaza, a four-story, 120.4k sf ($233/sf) office property in Laguna Hills. The building was sold by a New York City-based fund manager in an off-market transaction. The property is located at 24422 Avenida De La Carlota, on the west side of I-5 at Los Alisos Blvd. It is less than one mile from MemorialCare Saddleback Medical Center and near several retirement communities.

LAGUNA HILLS, CA–Buchanan Street Partners acquired Oakbrook Plaza, a four-story, 120,354-square-foot office property in Laguna Hills, CA. Buchanan is purchasing the building, at 24422 Avenida De La Carlota, from a New York City-based fund manager for $28.1 million in an off-market transaction.