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MXD Sells in “Challenging” Auction Process

A Pendulum Property Partners JV acquires Stadium Crossings here after conducting up-front due diligence and making an initial hard deposit on the property, which includes office, restaurant and church uses.

By Carrie Rossenfeld | Updated on December 13, 2017

Stadium Crossings Stadium Crossings offers 165,000 rentable square feet and is located in the center of the Platinum Triangle.

ANAHEIM, CA—A joint venture between Orange County-based Pendulum Property Partners and Boston-based Long Wharf Capital LLC has acquired Stadium Crossings, a 165,000-square-foot mixed-use commercial property here for what GlobeSt.com has learned is $46 million. The property was acquired during an auction process led by Newmark Knight Frank.

Stadium Crossings, located in the center of the Platinum Triangle between the 55 freeway and I-5 freewy at the intersection of East Katella Ave. and North State College Blvd., totals 165,000 rentable square feet and includes one four-story, multi-tenant office building, a food court, two stand-alone restaurants, a church and a pad site that was formerly occupied by a bank. One of the last remaining commercial properties controlled by a special servicer in Orange County, the property attracted a lot of attention from top firms; the sale was made after the JV conducted up-front due diligence and made an initial hard deposit on the property.

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