Los Angeles-based Maguire Properties Inc. said on Tuesday it is selling City Plaza tower in Orange to Los Angeles-based Hudson Capital LLC.
Terms of the deal, rumored to be in the works for more than a month, weren’t disclosed.
Maguire said the sale was done in arrangement with the property’s lender, and that it facilitated the handover of the building.
The 327,000-square-foot City Plaza tower is about 45% full, the lowest of any Maguire building in Central County.
Defunct subprime lender Ameriquest Mortgage Co. had leased space in the building until mid-2007.
It’s the second large Orange County sale in the past month for Maguire, which is looking to reduce its debt load after its $2.9 billion buy of local buildings last year.
Last month, Maguire completed the $211 million sale of Irvine’s Main Plaza office campus to Shorenstein Properties LLC of San Francisco.
In June, Maguire said it would look to sell another Irvine property, the Park Place campus, which at 105 acres and nine buildings is among the largest and most prominent properties in OC.
