The local office of Dallas-based Invesco Real Estate is selling part of its office holdings in Aliso Viejo.
The firm recently listed 4 and 5 Polaris Way, two of four buildings it owns at the five-building office campus just off the San Joaquin Hills (73) toll road.
The Newport Beach office of CBRE Group Inc. has the listing; an asking price has not been disclosed.
Records indicate that Invesco paid a cumulative $67.8 million for the two properties, which total 169,315 square feet, in separate transactions in 2016 and 2017.
Both properties are fully leased, serving as the corporate headquarters for two technology companies: Quest Software at 4 Polaris and UST Global at 5 Polaris.
The real estate investor has not indicated it is looking to sell its other two properties at the complex, which it’s been investing in for several years.
In late 2015, Invesco paid a reported $84.3 million, or about $421 per square foot, for 2 and 3 Polaris Way, two four-story offices that total about 200,000 square feet.
An affiliate of engineering and construction giant Fluor Corp., which built the offices in the late 1990s for its local operations, sold them to Invesco.
The following year, Invesco paid LBA Realty $33 million, or about $419 per square foot, for 5 Polaris Way, a 78,702-square-foot building.
In 2017, Quest Software sold the 90,611-square-foot 4 Polaris for $34.8 million, or $383.51 per square foot, but remained a tenant.
Aliso Activity
Invesco’s total Aliso Viejo portfolio currently totals more than 660,000 square feet.
It owns an additional 294,575 square feet at the Summit Office Campus, which is on the opposite side of the toll road from the Polaris Way buildings.
In 2015, it paid an estimated $108.1 million for 15 and 25 Enterprise, a pair of five-story offices at the campus.
That campus previously held the local operations of homebuilder Lennar Corp. and FivePoint Holdings LLC; both now are in Irvine.
Invesco paid an estimated $360 per square foot for the buildings, which were sold by Palo Alto-based Menlo Equities LLC.
