January 30, 2020 – BLT Enterprises, a multi-faceted real estate investment company based in Santa Monica, California, has sold a two-story office asset located in the heart of Anaheim’s coveted Platinum Triangle. The sale of the asset presents a rare opportunity for an owner-user to occupy a space in the Anaheim submarket, where most buildings are only available for lease.
“Similar to other commercial real estate asset classes, today’s office sector is more user-focused than ever before,” says Bernard Huberman, Founder and President of BLT Enterprises. “Modern, upgraded office space in a highly desirable location such as this is always at a premium and it is a testament to the strength of the market that we were able to close the deal in just 45 days.”
The property features modern amenities including floor-to-ceiling windows and skylights for ample natural lighting, interior and exterior brick walls, hardwood floors, a modern kitchen and several conference rooms.
Huberman notes that this is exactly the type of property that developers of smaller office assets are seeking to provide in the current tight market. “Developers know office occupiers are seeking well-designed spaces that not only function more efficiently but are also eye-catching and offer updated features,” he says.
Situated just moments away from Angel Stadium, the property is a rare, two-story building surrounded by the multitude of new high-rise apartments, hotels and retail redevelopments under construction within and around the Platinum Triangle. “While Orange County remains a popular office market, it is not common to find jewel box properties such as this within areas of such heavy urban development,” says Huberman.
Built in 1990, the 8,200 square-foot property features two floors of office space over a subterranean parking garage. BLT originally acquired the building in 2016 as part of a portfolio of buildings for a total of nearly $30 million.
The property is located at 2100 S. State College Boulevard in Anaheim, California.
Kurt Bruggeman of Lee & Associates Irvine represented BLT Enterprises as the seller and Phil Fridd and James Hawkins of Lee & Associates Orange represented Hutton Development Company as the buyer.