Orange County office property trades for $10.645M
JLL Capital Markets led the sales efforts for the fully leased building at 330 East Lambert Rd. in Brea, California
NEWPORT BEACH, CALIF., June 6, 2022 – JLL Capital Markets announced today that it has closed the $10.645 million ($11.645 million with PACE) sale of 330 E. Lambert Rd., a fully leased office property totaling 43,800 square feet in Brea, California.
JLL represented the seller, Miller Family Companies, and procured the buyer, a local private high net worth investor.
330 E. Lambert Rd. is positioned in North Orange County close to the Brea Mall, one of the top performing shopping centers in the U.S. and within walking distance of numerous retail and service amenities. The 2.38-acre site is 25 miles southeast of downtown Los Angeles and easily accessible to the entire Orange County area and San Diego via the 57, 5 and Imperial Freeways.
Recently renovated between 2018 and 2020, 330 E. Lambert offers two stories of office space and parking for 150 vehicles. Five tenants occupy the building, including the anchor tenant 7-Eleven along with Avita and Lendistry. The property has undergone ESG improvements, including a new solar grid, significantly lowering its operating expenses.
The JLL Capital Markets team representing the seller was led by Director Mark DeGiorgio and Senior Director Blake Bokosky.
“Brea continues to be a highly sought-after investment market both for private capital and institutional buyers due to its strong office fundamentals, proximity to Los Angeles, Orange County and the Inland Empire, along with an ever-growing population,” said DeGiorgio.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About The Miller Family Companies
The Miller Family Companies have been in continuous business for over 85 years and are involved in the development, construction and investment of suburban office and retail buildings. For more information, please visit: millerfamilycos.com.