Bixby Land Company today announced that it has completed the $22 million sale of a three-building office portfolio located at 26110, 26140 and 26160 Enterprise Way in Lake Forest, Calif.
The project contains a combined 145,440 square feet, with 90% of the total office space leased to Panasonic Avionics Corporation. Eastdil Secured brokers Adam Edwards, KC Scheipe, Michael Kathrein and Jay Boyle represented Bixby and an undisclosed buyer in the transaction. Bixby has owned the project since 2000.
"This sale further aligns Bixby's goal of disposing non-strategic assets for reinvestment into value add opportunities consistent with our current objectives," said Bill Halford, CEO of Bixby Land Company. "We remain committed to growing our portfolio and continue to seek attractive value add investment opportunities throughout California," said Halford.
About Bixby Land Company
Bixby Land Company is a leading commercial real estate operator and investment manager with a portfolio of assets under management nearing $1 billion. The company is a privately-held REIT with a focus on core industrial and value add investments in R&D and office properties throughout the Western U.S. Bixby Land Company has a vertically integrated operating platform backed by a veteran management team. For more than 100 years, Bixby Land Company has been committed to adding value for its investors and shareholders.