JV Partners Purchase Off-Market Office Campus

ALISO VIEJO, CA – Joint-venture partners, Harbor Associates LLC and Singerman Real Estate have acquired the 297,277-square-foot office campus, Summit IV, in Aliso Viejo, CA, in an off-market transaction.

The class A property is currently 80% leased.

Harbor Associates will immediately commence renovations at the property. The project’s planned enhancements will aim to improve workplace wellness and create complementary on-site lifestyle amenities throughout the property’s outdoor courtyard.

The project’s interior improvement plans include a new lobby, move-in ready suites, restroom updates and corridor updates.

“Summit IV is a premier class A asset in Aliso Viejo with strong in place tenancy and many property characteristics that we think will be in demand as tenants continue returning to the office,” states Justin Loiacono, a principal at Harbor Associates. ”We believe high-quality and well-located suburban office assets will outperform moving forward.”

“Our plan is to reimagine this project while celebrating its current design and introducing a focus on health and wellness in the workplace by incorporating relevant lifestyle and recreational amenities that offer the type of work life balance many desire as they return to the office,” says Rich McEvoy, principal at Harbor Associates.

“We are excited to extend our relationship with Harbor Associates through this investment,” states Singerman Real Estate principal, Kiley Carter. ”Summit IV benefits from a strong tenancy, physical design, opportunity to enhance outdoor common areas and proximity to a talented employment base. This partnership represents our 12th investment in Southern California across asset classes and we look forward to executing on additional opportunities with Harbor.”