Newmark Arranges Nearly $18 Million Sale of Office Building in Central Orange County

June 28, 2024 8:00 AM

Newmark[1] announces it has facilitated the sale of 999 Town & Country, a 98,907-square-foot Class A office building in Orange, California. The property sold for $17,900,000.

Newmark Co-Head, U.S. Capital MarketsKevin Shannon, Vice Chairmen Paul Jones and Ken White and Senior Managing Director Brandon White represented the institutional seller. Hampton Tedder Electric was the buyer and plans to occupy the 15,700-square-foot vacant top floor of the building.

"This transaction underscores the demand for well-located, versatile properties in Central Orange County," said Jones. "With the continued displacement of office buildings and lack of institutional investors looking to buy, full or partial owner-users are seeing tremendous opportunities in today's market."

The four-story building, located in the Central Orange County submarket, was 84% leased at the time of sale. Existing tenants include AECOM and Intercare. The property features quality finishes, large floorplates and both surface and garage parking.

999 Town & Country sits on 2.82 acres directly adjacent to the Main Place Mall, which is currently undergoing a $500 million renovation. The property's location presents excellent connectivity to major freeways, including I-5, SR-22 and SR-57.

[1] Dba Newmark Knight Frank in California

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Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ended December 31, 2023, Newmark generated revenues of approximately $2.5 billion. As of March 31, 2024, Newmark's company-owned offices, together with its business partners, operate from approximately 170 offices with 7,600 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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