Brea Office Building Sells for $28M

The Whittier Comstock LLC, an affiliate of Matt Waken’s MW Investment LLC, acquired the Fairway Center II, a 135,308-square-foot office building in Brea for $27.9 million.

The Teachers Insurance and Annuity Association of America sold the three-story building at 675 Placentia Ave. for about $206 per square foot

At the time of the sale, the 7.4-acre property was 70.5% leased. The County of Orange is the largest tenant, occupying over 61,000 square feet, CBRE officials said.

CBRE’s Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Jackson Marlow represented the seller. CBRE’s Shaun Moothart and Andrew Post secured acquisition financing for the buyer at an interest rate below 6%.