LAKE FOREST, CALIF. — Bailard has completed the disposition of Bailard Real Estate Fund of Palm Terrace, an office campus located in Lake Forest. Kingsbam Real Estate Capital acquired the asset for $40 million in an off-market transaction.
Located at 25521, 25531 and 25541 Commercentre Drive, the three-building campus features 155,795 square feet of office space. At the time of sale, the property was 97 percent leased to a variety of tenants, including Del Taco, PGM Holdings, Hometown Equity, Citadel Servicing and Anyone Home.
The property features revamped landscaping, an outdoor common area and courtyard, open floorplates, ample natural light, abundant surface-level parking, building signage and energy-efficient lighting.
Kevin Shannon, Paul Jones and Brandon White of Newmark represented the seller, while the buyer was self-represented in the deal.