120 S State College Blvd
Brea, CA 92821
Brea Place · Office Property For Sale

PREMIER LOW-RISE OFFICE BUILDINGS WITH EXCEPTIONAL TENANCY, AN ATTRACTIVE CAMPUS SETTING AND VALUE-ADD POTENTIAL 120 S State College 91% leased to six tenants with an average lease term of 6.00 years. Exceptional credit tenants make up the entire in-place rent roll. Value-add potential through the immediate lease up of the remaining vacant suite and achieving higher rents upon rollover (in-place rents are 18.71% below market). Brea Place A mixed-use campus, consisting of 6 Class A office buildings, that has consistently outperformed the market. The recent multi-million-dollar upgrades established Brea Place as a one-of-a-kind work-life campus highlighted by indoor/outdoor space, superior onsite amenities that include an athletic club, an executive lap pool, state-of-the-art collaboration/game rooms and world-class conference/training center, an integrated park, outdoor green work spaces and activities, complementary pop-up classes, dining options and everyday convenient services. Significant new neighboring development is underway, including the new mixed-use development of 653 Class A apartments and a 150-key hotel, as well as the expansion of Tracks at Brea, a four-mile trail and linear park that is one of Brea’ s most notable public projects in a generation. EXCEPTIONALLY STRONG MARKET FUNDAMENTALS Brea’s low-rise office submarket has experienced exceptionally healthy and steady growth since mid-2011, with vacancy dropping from a near 20% to an impressive 3.9% as of 2Q18. Given the lack of space and zero near-term construction activity, further tightening in Brea’s low-rise micro-market will likely continue in the foreseeable future. In light of tightening market fundamentals, direct rental rates for low-rise office in Brea have experienced a steady ascent that reflects an average annual growth of more than 6% in the past five years. Rental rates are projected to grow by 19.1% over the next 5 years, according to CBRE Econometric Advisors. BEST LIVE-WORK-PLAY LOCATION IN NORTH ORANGE COUNTY WITH SURROUNDING WORLD-CLASS AMENITIES Surrounding world-class amenities include Simon Property’s 1.31 million square foot Brea Mall, a 175+ store regional mall that is the largest for North Orange County. Brea Mall is one of four A+ malls in the county and is home to Apple, Tesla, Nordstrom and many other premium retailers. Also nearby are the Brea Marketplace, The Tracks at Brea, Disneyland, Honda Center, Angel Stadium and the Anaheim Regional Transportation Intermodal Center.