Newmark Capital Markets has announced the $28.8 million sale of Stadium Centre, a six-story, 122,080-square-foot office property in Anaheim, CA. The multi-tenant building is 98 percent occupied.
Newmark Capital Markets Executive Managing Director Paul Jones, Co-Head of U.S. Capital Markets Kevin Shannon, Managing Director Blake Bokosky, Executive Managing Director Brunson Howard and Senior Associate Brandon White represented the seller, a joint venture between Greenlaw Partners and its institutional partner. The buyer, a private equity firm, was self-represented.
“Stadium Centre is a very well-located mid-rise office building that has had a historically high occupancy and will continue to benefit from all the new multifamily urban development throughout the Platinum Triangle,” said Jones.
Built in 1985 and situated on 3.64 acres at 2099 South State College Blvd., Stadium Centre features high ceilings, high-end finishes and more than 450 parking spaces. Some of the building’s tenants include State of California EDD, Anaheim Visitors Bureau, Wells Fargo, Gexpro, Securitas and Rolf.
Stadium Centre is proximate to some of Orange County’s top entertainment venues including Angel Stadium, Honda Center and the National Grove of Anaheim. The property is walkable to dozens of retail shops and restaurants and is less than one mile from the Outlets at Orange, an 806,000-square-foot outdoor dining, shopping and entertainment destination.
About Newmark Capital Markets
Newmark Capital Markets, operated by Newmark Group, Inc., is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, our 16,000 professionals operate from approximately 430 offices on six continents.
We provide access to a wide range of services, including asset sales, sale leasebacks, mortgage and entity-level financing, equity raising, underwriting and due diligence. The transactions we broker involve vacant land, new real estate developments and existing buildings. We specialize in arranging financing for most types of value-added commercial real estate, including land, condominium conversions, subdivisions, office, retail, industrial, multifamily, student housing, hotels, data center, healthcare, self-storage and special use. For further information, visit www.ngkf.com/capitalmarkets.
Newmark Group, Inc., which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol “BGCP”. BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol “BGCA”.
Discussion of Forward-Looking Statements about Newmark Group
Statements in this document regarding Newmark Group that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark Group undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark Group’s and BGC’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.