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Parallel Partners Pays $85M for Office Park

SEAL BEACH, CA-The sale of Bixby Office Park is the largest office deal completed in Orange County to date this year.

By Carrie Rossenfeld | Updated on February 28, 2013

SEAL BEACH, CA-A large national insurance company has sold Bixby Office Park, a three-building complex here, to PCPI Bixby, LP, an acquiring entity of San Diego-based Parallel Capital Partners, for $85 million. The sale is the largest office deal completed in Orange County to date in 2013.

The complex, a 297,241-square-foot property on 15.8 acres, is located at 3001-3005, 3010, 3020 and 3030 Old Ranch Pkwy. Built in 1987, it is currently 98% occupied, with major tenants including Baker Corp., SAIC, Olson Urban Housing, Seagate Offices and Clean Energy Fuels Corp.

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