Hager Pacific Properties Closes Acquisition In Mission Viejo
19 Mar 2012
Newport Beach, Calif. – March 19, 2012 – Hager Pacific Properties, one of the largest privately owned real estate investment firms in Southern California, has acquired a 16,698- square-foot industrial building located in Mission Viejo, Calif. The firm purchased the property for more than $1.5 million dollars from a private
party and closed escrow within 5 days of removing contingencies.
“This functional building is well located in the desirable HighPark Business Complex in Mission Viejo making it a attractive location for a small firm,” said Rob Neal, a managing partner with Hager Pacific Properties. “The Orange County market continues to provide us with opportunities to leverage our strong cash position to acquire properties that can produce excellent yields.”
Located at 26021 Pala Drive, the property is situated off Jeronimo Rd., between Alicia Parkway and Los Alisos Blvd. It benefits from close proximity to the San Diego (I- 5) Freeway.
Notable features include three 12′ x 16′ ground level doors, 12,359 square feet of office space and 4,339 square feet of shop space.
About Hager Pacific
As a real estate investment firm, Hager Pacific Properties is guided by a value-added investment philosophy implemented through the acquisition of under-performing, aged or environmentally impacted real estate. Its investments have become more valuable through re-positioning, renovation or reuse of the property. The preferred
buyer of challenging properties, Hager Pacific self-funds its real estate deals without outside capital. The company’s portfolio consists of more than 100 assets ranging in size from 25,000 to more than 1 million square feet and features a wide variety of product types including office buildings, research and development complexes,
apartment buildings, community shopping centers, warehouses and industrial facilities. The total portfolio consists of 11 million square feet of industrial, retail and commercial properties and 2,300 apartment units valued at more than $1 billion.
For more information about Hager Pacific, please visit www.hagerpacific.com.