May 7, 2019 – HFF announces that it has closed the $33.5 million sale of Fairway Center I, a 145,467-square-foot suburban office building in the Orange County community of Brea, California.
HFF marketed the property on behalf of the seller. Dollinger Properties purchased the property.
Situated on 5.5 acres at 1800 E. Imperial Highway, Fairway Center I is located off of the 57 Freeway on Imperial Highway, which offers visibility to approximately 256,000 vehicles per day and provides access to more than four million square feet of retail and service amenities. Additionally, the property is near the 1.3 million-square-foot Brea Mall lifestyle center (Simon). Fairway Center I is 90.7% leased to five tenants. The suburban office building features a two-story marble lobby with a 25-foot circular skylight, lush landscaping, open floor plans and a parking garage.
The HFF investment advisory team representing the seller was led by Mark DeGiorgio and Michael Leggett.
“Extremely positive market fundamentals in the Brea office submarket, coupled with Fairway Center I’s longevity of credit tenants and areas for capital improvements, attracted a variety of private and institutional investors to the project,” DeGiorgio said.