South OC Office Asset Trades for $59M

One Enterprise, a class-A office building in South Orange County, has traded hands for $59 million. AEW sold the property to BDC.

Located at 1 Enterprise in Aliso Viejo, CA, the 11,391-square-foot office asset was built in 1999 and has no history of vacancy. The surrounding market has seen multiple years of positive net absorption and consecutive quarters of positive rent growth.

NKF’s executive managing director Paul Jones, co-head of U.S. capital markets Kevin Shannon, executive managing director Brunson Howard, managing director Blake Bokosky and senior associate Brandon White represented the seller. The private 1031 exchange buyer was represented by NKF’s vice chairman Nick Kucha.