Description

Colliers is pleased to present the opportunity to acquire the fee simple interest in 1535 E. Orangewood Ave (the “Property”), a 33,488 square foot government-leased office building in Anaheim, California.

The Property is 100% leased to the County of Orange (S&P: AAA) through the end of October 2032. The County has occupied this building since 2002, showcasing an exceptional 30-year commitment to this location. Given its tenure at the Property, the County has a high likelihood of renewal at the end of its lease in 7.5 years.

The offering also provides an attractive covered land opportunity for future multifamily redevelopment. 1535 Orangewood is located in Anaheim’s Platinum Triangle, home to Angel Stadium and the Honda Center, Orange County’s two premier sports arenas. In 2004, the City of Anaheim created a zoning overlay for the Platinum Triangle to completely change the character of the neighborhood from a low-rise commercial area into a dynamic mixed-use and walkable neighborhood. The zoning overlay has already budgeted for multifamily development on this site.

This fully leased government building provides an investor with secure cash flow for the next 7.5 years from a tenant with an investment-grade balance sheet, a high likelihood of renewal, and exceptional downside protection through a multifamily redevelopment.