DRAWBRIDGE REALTY PURCHASES PANASONIC HEADQUARTERS IN ORANGE COUNTY, CA
Lake Forest, CA - September 11, 2017 - Drawbridge Realty, a San Francisco based real estate investment company, announced the acquisition of 26200 Enterprise Way for $32.4 million from Barings. The building serves as the headquarters for Panasonic Avionics Corporation, a wholly-owned subsidiary of Panasonic Corporation, a world leader in state-of-the-art inflight entertainment, connectivity, and customer solutions. The 144,906 sq. ft. two-story Class A office/R&D facility is part of the seven building Panasonic Avionics Campus located in the heart of the South Orange County submarket of Lake Forest, CA. This area is ideally situated between Irvine and Mission Viejo at the Santa Ana (I-5) and San Diego (I-405) freeway interchange. This location is at the heart of Orange County's new development activity, and is known for the quality housing, education, proximity to beaches, airports, and universities.
"We are pleased to expand our presence in the Orange County market with this acquisition," said Chris Elmendorf, Vice President, Investments, at Drawbridge Realty.
"This investment is consistent with our desire to acquire mission critical facilities that are well located and leased to strong corporate tenants."
Jeffery Cole, Ed Hernandez, Nico Napolitano & Jay-Paul Lowry of Cushman & Wakefield represented the seller and Drawbridge Realty, represented itself in this transaction.