LAGUNA HILLS, CA—CBRE has completed the sale of Lakehills Corporate Park, a class A, multi-tenant office campus located in Laguna Hills, to Del Mar-based Cruzan Co. for $46 million. CBRE vice chairman Kevin Shannon, along with Paul Jones, Bob Smith and Blake Bokosky, represented the seller, AEW Capital Management. AEW sold the property on behalf of one of its separate account clients.
The 223,467-square-foot, five-building, two-story office campus is currently 78% leased. The property is located at 23332-23422 Mill Creek Drive and 24411-24461 Ridge Route Drive on six separate parcels totaling approximately 15.92 acres. It is located less than 2.5 miles from the Irvine Spectrum Retail Center and has convenient access to the 5 and 405 freeways, as well as the Foothill Transportation Center.
“Cruzan has successfully repositioned many office and industrial deals in the San Diego region over the years. This was their first acquisition in the Los Angeles/Orange County markets where they plan to expand their foothold,” said Shannon.
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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.
