Tustin Financial Plaza, a five-building and 185,000-square-foot office campus on 17th Street in Tustin, has changed hands for $27.5 million.
Denver-based Sagard Real Estate, formerly known as EverWest Real Estate Investors, sold the office campus to an undisclosed buyer.
“We continue to execute our strategy of reducing office sector exposure,” Sagard Head of Equity John Maurer said in a statement. “This sale is another step in our broader portfolio repositioning, with a clear focus on industrial and multifamily sectors that we believe are well-positioned for strong, long-term performance. We are committed to enhancing value for our investors by aligning our portfolio with market opportunities.”
Sagard Real Estate bought the five-building office campus in 2006 as part of an investment fund.
The company, in a statement, said it is divesting from Tustin Financial Plaza due to its “adaptive investment approach, responding to evolving market conditions.”
Tustin Financial Plaza is located at 17772, 17782, 17822, 17852 and 17863 E. 17th St. in Tustin. Tenants at the office campus, per CoStar data, include Keller Williams, Parker & Covert LLP and Prime Choice Funding.
CBRE brokered the sale.
