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South County Office Portfolio Trades for $49M

South County Office Portfolio Trades for $49M

Menlo Properties has acquired Campus South County, a 288k SF portfolio of office properties at 27042-27121 Towne Centre Dr in Foothill Ranch, from MetLife for $49M. The property, which is on about 18 acres, consists of three two-story office buildings built in 1999. The buildings received a reno last year to include a conference center (IQ Pod, pictured), tenant lounge and an outdoor meeting area with WiFi. It's about 60% occupied. CBRE's Kevin Shannon, Robert Smith, Paul Jones and Ken White repped the seller; the buyer repped itself. [CoStar]