By Blau Journal
September 10, 2019 – Stanton Road Capital, LLC (“SRC”), a Los Angeles-based investment management firm focused on direct commercial property investments, is pleased to announce the acquisition of TriCentre, a 10-story Class “A” office tower totaling 211,916 SF located in Orange, CA.
Completed in 1986, TriCentre is strategically located within the “Platinum Triangle” at the convergence of the I-5, SR-57 and SR-22 Freeways. The property has a number of high-profile tenants including Farmers Insurance, Children’s Home Society of California, MegaMex Foods, Inc. and Lockheed Martin. SRC has plans to invest significant post-acquisition capital to improve the current tenant experience while attracting additional high-value tenants to the building, which is currently 78% leased. Planned investments include a fully overhauled lobby and courtyard, along with a number of base building upgrades.
SRC has been active in the Orange County market, recently acquiring The Office at Village Business Park, a 10.5 acre, two-building office property in Buena Park, which the firm is currently re-positioning.
“WE ARE EXCITED ABOUT THE POTENTIAL OF TRICENTRE,” SAID TIM RONAN, JR., FOUNDER AND MANAGING PARTNER OF SRC, “WITH ITS ACCESSIBILITY, THE SLATED IMPROVEMENTS AND SRC’S TRACK RECORD OF SUCCESSFULLY REPOSITIONING PROPERTIES, TRICENTRE HAS THE OPPORTUNITY TO BECOME A PREMIER BUILDING IN THE AREA.”
Cushman & Wakefield will handle leasing and property management of TriCentre.