BREA, CA—International real estate firm Hines says that it, along with a subsidiary of a real estate fund managed by Oaktree Capital Management, L.P., has acquired Brea Place, a 557,589-square-foot office campus on 30 acres, including seven acres of future mixed-use development land. The campus comprises six buildings that range from one to six stories on both the east and west sides of S. State College Boulevard, immediately adjacent to the Brea Mall. Financials on the deal were not disclosed.

Located within the North Orange County submarket, Brea Place has convenient access to major freeways servicing the vast Los Angeles, Inland Empire and greater Orange County employment hubs. In addition, the project's location provides excellent access to retail, dining and hospitality amenities, including the adjacent 1.3 million-square-foot Brea Mall.

Hines managing director Ray Lawler, who leads the firm's Orange County development and investment office, said, “North Orange County is a highly attractive submarket where Hines and Oaktree expect to grow our portfolio. The accessibility to the Orange County, Inland Empire and Los Angeles labor pools, coupled with strong demographics, make Brea a great opportunity for investment. Brea Place is a premier office campus in this submarket and the surrounding area's business environment is strong.”

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.