This article originally appeared in The Orange County Register.
December 22, 2022
Newport Beach-based Buchanan Street Partners has acquired Oakbrook Plaza, a four-story office property in Laguna Hills, for $28 million.
The building at 24422 Avenida De La Carlota was bought from an unidentified New York City-based fund manager in an off-market transaction, according to Buchanan Street.
The property is roughly two-thirds occupied with half of that space leased to medical tenants, the firm said in a statement.
Zoning allows for multiple investment strategies for Buchanan, including an increase in medical office space as well as the potential development of multifamily.
Kevin Shannon, Paul Jones and Brandon White with Newmark represented the seller.