Redwood City-based Dollinger Properties has made what appears to be its first OC acquisition in a few years, for an office in Brea.
The investor paid $33.5 million for Fairway Center I, a 145,467-square-foot suburban office building along East Imperial Highway, about half a mile east of the Orange (57) Freeway.
The deal works out to a price of $230 per square foot. Property records indicate the two-story building was sold by an affiliate of N.Y.-based Rockefeller Group International Inc., in a deal brokered by HFF LP’s Mark DeGiorgio and Michael Leggett.
Fairway Center is about 91% leased to five tenants on 5.5 acres. Other regional buildings Dollinger owns are in Glendale and Long Beach; a majority of its holdings are in Northern California.
