Managing Director Michael Zietsman and Vice President Baker Morphy led the JLL team on the sales transaction of 1 and 2 MacArthur Place. The two Class A assets sold by GLL Real Estate Partners are located in the mixed-use MacArthur Place development in Orange County’s South Coast Metro submarket. Blackstone Group purchased the property for $82.5 million.
Buyers were presented with an incredible opportunity to obtain large blocks of Class A office space,” said Zietsman. “The Area Airport submarket has seen a significant increase in office leasing activity, which should result in heightened tenant interest and a significant value-add opportunity for Blackstone.”
The office towers total 409,762 square feet and are located in Santa Ana, California. As part of the MacArthur Place campus, the properties are located on the same site as retail and residential properties and are also near the area’s airport and highway system. Each building features nine stories and is LEED Gold-certified.
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