Root: The true class-A office inventory is very limited in Seal Beach and generally in the West County. The Ranch at Seal Beach is located adjacent to I-405, and the freeway's annual average daily traffic in Seal Beach is greater than 375,000, making it one of the highest traffic counts in the nation. Seal Beach does benefit from Leisure World, a groundbreaking retirement community, and the Seal Beach Naval Weapons Station. These two economic contributors help drive the strong wealth-advisor and defense-contractor demand in Seal Beach. The Ranch at Seal Beach benefits from its freeway visibility and its strategic location between the region's two largest employment centers, ensuring its popularity for its relatively small office inventory.

GlobeSt.com: Which users are most attracted to this market?

Root: Seal Beach continues to attract office occupiers searching for a highly visible, easily accessible location strategically located between Los Angeles and Orange County, with access to a diverse, well-educated labor force and nearby amenities. Wealth management and retirement planning, consulting firms, construction companies, financial services, marketing firms, defense contractors, shipping and logistics operators, medical-device testing and executive-office users are most attracted to this market.

GlobeSt.com: What else should our readers know about this particular transaction?

Root: When you can deliver a very high-quality tenant experience like the Ranch at Seal Beach with access to both business centers in Los Angeles and Orange County; visibility to more than 375,000 cars daily; easy access to the 405, 605 and 22 freeways; and a full complement of on-site amenities, you have the formula for a very successful long-term office investment.

SEAL BEACH, CA—Seal Beach is a highly insulated office market with close proximity to major employment centers in Los Angeles and Orange County and has great freeway visibility, ensuring its popularity, Parallel Capital Partners' CEO Matt Root tells GlobeSt.com. As we recently reported, the firm has secured $48.5 million from Pacific Western Bank to refinance the newly rebranded the Ranch at Seal Beach, as well as completed lease transactions at the class-A office property valued in excess of $20 million. We spoke exclusively with Root about why the property has been so successful, as well as the appeal of Seal Beach office market.

GlobeSt.com: How would you characterize the office market in Seal Beach?

Root: Seal Beach is a highly insulated office market located on the coast of northwestern Orange County. It can generally be described as a beach community located approximately 30 minutes from LAX. The advantage of the Seal Beach office market is its proximity to both major employment centers in Los Angeles and Orange County, making it ideal to do business in both business centers from one location. When you amalgamate a highly desirable location and high-quality tenant experience with extremely high barriers to new construction and strong economic growth, the result is significant declines in vacancy rates and upward pressure on rental rates. That would characterize the current class-A office market in Seal Beach.