Hines, Oaktree Capital Sell PacSun-Occupied Office Building in Anaheim for $44M
ANAHEIM, CALIF. — Hines and funds managed by Oaktree Capital Management have completed the sale of a single-tenant office building located at 3450 E. Miraloma Ave. in Anaheim. A family trust bought the property for $44 million.
Built in 2002 as a build-to-suit for Pacific Sunwear of California (PacSun), the property features 180,000 square feet of Class A office space, large floor plates, a cafeteria, outdoor sports courts and ample surface parking.
PacSun occupies the property on a long-term, triple-net lease. Founded in 1980, Newport Beach, Calif.-based PacSun is a retail clothing brand rooted in the youth-oriented culture and lifestyle of California.
Paul Jones, Kevin Shannon, Brandon White, Sean Fulp, Ryan Plummer, Mark Schuessler and Matt Berres of Newmark Knight Frank represented the sellers, while Michael Hartel of Colliers International represented the buyer in the deal.