Miszkowicz: “Off-market transactions are difficult to source and can come with unrealistic pricing expectations from sellers.”
TUSTIN, CA—For every off-market transaction Harbor Associates has closed, there are 20 to 30 on which it has swung and missed, principal Paul Miszkowicz tells GlobeSt.com. As we recently reported, the firm has acquired Tustin Commons, a 210,875-square-foot, three building, office and flex portfolio, in a joint venture with Stockbridge Capital Group. Harbor sourced the asset in an off-market transaction by capitalizing on its local knowledge that the previous tenant was vacating the entire campus in Q2 and was able to secure a 20,000-square-foot, multi-billion-dollar tenant in tow during escrow.
We spoke exclusively with Miszkowicz and fellow principals Joon Choi and Justin Loiacono about the difficulty of sourcing off-market transactions and the ins and outs of those deals.
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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.
