Office

Fairway Center I - Brea, CA

1800 E Imperial Hwy, Brea, CA, 92821-6062, US

Fairway Center I - Brea, CA_Property for Sale

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Asset description

JLL, as exclusive advisor, is pleased to present the opportunity to acquire Fairway Center I (the “Property”), a 145,798 square foot office building located in Brea, California. Fairway Center I is currently 13% leased to two (2) tenants, both of which expire in 2026 providing an investor tremendous upside opportunity through lease up of the remaining vacancy (±127,000 SF). The Property is conveniently located off of the Orange (SR-57) Freeway on East Imperial Highway, offering exceptional visibility and immediate access to over 4 million square feet of retail and service amenities, as well as close proximity to an array of executive housing options throughout Orange and Los Angeles counties. Within immediate proximity are the 1.3 million square foot Brea Mall lifestyle center and the La Floresta master–development. With the office supply in Brea on the decline due to increased industrial conversions, Fairway Center I is positioned to benefit from the continued increase in leasing demand and upward movement in office rental rates as the Imperial Highway corridor gentrifies into a more vibrant environment. Additionally, the Property encompasses over 5 acres, giving investors a covered land play opportunity to potentially redevelop to multifamily or residential.

Attributes

Building area Net
145,798 sf
Occupancy
13.00%
Year built
1987
Land area Net
5.50 acres (239,580 sf)

Investment highlights

  • Owner-User opportunity - 75,000 square feet of contiguous 2nd floor space
  • Strong development fundamentals creates flexible exit opportunity - residential and multi-family
  • Opportunity to reposition/renovate to further enhance value
  • Robust office market fundamentals - lowest vacancy in OC

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Last updated
Nov 30, 2022