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LAKE FOREST, CALIF. — Bailard Inc. and CT Realty have acquired Palm Terrace, a 155,795-square-foot property office complex in Lake Forest, for $30 million. The three-building property is located at 25521, 25531 and 25541 Commercentre Drive.
Palm Terrace is 90 percent leased. Notable tenants include Del Taco, Portfolioco, Anyone Home Inc. and Parsons.
The property features a campus environment with an outdoor eating area and courtyard.
CT Realty represented the joint venture in this transaction. The seller, LaSalle Investment Management, was represented by JLL’s Bob Prendergast and Baker Morphy.
CT Realty will act as property manager. JLL’s Jay Nugent and Greg Puccinelli will retain the leasing assignment.