ALISO VIEJO, CA-Stream Realty Partners has received a bevy of new leasing assignments, including a total of more than 186,000 square feet in Orange County alone. The properties include Pala Place Corporate Center at 25909 Pala Place in Mission Viejo, with 56,600 rentable square feet to fill, and Avalon Center at 5405, 5455 and 5555 Garden Grove Blvd. in Westminster, with 129,505 rentable square feet to fill.
Pala Place Corporate Center, owned by Dolphin Partners Inc., is the third building Stream Realty will be leasing in Dolphin's Mission Viejo portfolio. The previous properties include Highpointe I and II and Highpark Center I and II.
Pala Place was built in 1998, with renovations completed in 2012, and contains three stories of class-A office space featuring 1000- to 20,000-square-foot suites. Also featured are an elegant lobby and newly renovated common areas. Tenants who seek high visibility also have the option of prominent building-top signage. The project is currently asking $1.90 per square foot, full-service gross.
“I am consistently impressed with the unparalleled level of service Stream provides,” said Frank X. Romagnano II, director of leasing for Dolphin Partners, in a prepared statement. “Their market expertise, ability to hustle and personable approach made them a natural choice to lease another one of our properties.”
Avalon Center consists of two class-B three-story buildings and one class-A six-story building. It is centrally located within the county and offers convenient access to the 405 and 22 freeways. The three buildings offer 1,000- to 33,200-square-foot office suites.
The firm has also been charged with filling space in Los Angeles, including 191,939 square feet at Cerritos Tower and 155,000 square feet at Starz Plaza. Sun West Mortgage Co. has relocated its corporate headquarters to Cerritos Tower, securing the first and second floors of the building. Since Stream gained the leasing assignment for the property in August, the team has negotiated more than 45,000 square feet while increasing occupancy from 50% to 80% in less than four months.
As GlobeSt.com previously reported, in October Blaine Annett and Colby Annett, co-managing partners of Stream Realty Partners, secured several significant leases at Summit Office Campus here totaling more than 66,000 square feet. Most notably, transactions include a 30,813-square-foot lease for the relocation of Pacific World Corp.'s corporate headquarters.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
