Goldman will reimagine Axis into a campus environment targeting creative tenants.

“Pendulum has successfully repositioned and rebranded the 1980's vintage office park into a single cohesive campus over the past three years by improving building interiors, exteriors, and landscaping,” says Sumberg. “Further, they added market leading amenities such as indoor/outdoor conference centers, outdoor lounge areas, and a fitness center. GSAM PRE intends to complete the renovations to the building lobbies, common areas, and tenant spaces while expanding upon the amenities and services offered to tenants. We believe the property currently offers a differentiated look and feel that does not exist in neighboring office buildings and we are excited to deliver a creative, modern product to a market that we believe has clearly demonstrated appetite for it.”

The market is primed for creative office growth. There have already bee a handful of creative office conversions in Orange County, but not in the Anaheim market. “Anaheim and Central OC generally have not experienced the same number of creative repositionings as most of the office inventory is more high-rise and traditional in nature,” explains Sumberg. “We believe that office users have proven that there is increased demand for low-density, surface parked product, which allows for an enhanced tenant experience with increased accessibility and connectivity in the workplace. Finally, Anaheim's central location with access to major population nodes leads us to believe that creative product in a location like this is desirable for today's employers, who are increasingly preoccupied by retaining and attracting talent.”