Stadium Crossings in Anaheim Sells to Kingsbarn for $32M
By Mark Hallum March 22, 2022 3:04 pm
reprints
Stadium Crossings, a four-story office building at 2125 East Katella Avenue in Anaheim, Calif., has been sold by its owners, Irvine-based Pendulum Property Partners, for $31.5 million.
Newmark (NMRK)’s Kevin Shannon, Paul Jones, Brandon White, Liam Ogburn, Sean Fulp, Ryan Plummer and Mark Schuessler represented Pendulum, and announced the deal. It is not clear who represented the buyer, Kingsbarn Realty Capital, a Las Vegas-based real estate private equity firm.
Kingsbarn, which oversees about $1 billion in assets, did not immediately respond to a request for comment.
Stadium Crossings, adjacent to Angels Stadium, spans 106,068 square feet on a 3.3-acre parcel, and it is fully leased with anchor tenant County of Orange occupying about 50 percent of the building, according to Newmark.
“With a location in the heart of the Platinum Triangle submarket, Stadium Crossings offers the new owner a stable investment with future upside as the immediate vicinity is transformed into a 24-hour lifestyle and entertainment hub,” White said in a statement.
Built in 1999, Stadium Crossings recently underwent a $1.3 million capital renovation project which included upgrades to the lobby, elevators, HVAC, restrooms, corridors and landscaping, per Newmark.
Located near I-5, I-57, I-22, Amtrak and Metrolink train lines, Platinum Triangle has seen a wave of multifamily and retail development in recent years.
Mark Hallum can be reached at mhallum@commercialobserver.com.
