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TA Takes Plaza PacifiCare

CYPRESS, CA-The Newport Beach-based investment firm acquires the 109,000-sf office property from the CarrAmerica REIT for $14.7 million.

By Bob Howard | Updated on November 02, 2003

CYPRESS, CA-TA Associates Realty of Newport Beach has purchased the 109,190-sf Plaza PacifiCare office project for $14.7 million, according to Grubb & Ellis.

The five-story, steel-frame building, which is located at 5995 Plaza Dr., was 100% leased at the time of sale. TA Associates acquired the building, which was completed in 1986, from the Washington, DC-based CarrAmerica real estate investment trust.

Both the buyer and the seller were represented by Kevin Shannon, Scott Schumacher and Michael Moore of the South Bay office of Grubb & Ellis in Torrance and Bryon Ward of the Grubb & Ellis Newport Beach office.

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