Solving a Shortage in South OC
Dunbar Real Estate Investment Management president Ross Mitchell tells us the South Orange County office submarket, and San Juan Capistrano in particular, are supply-constrained, with limited opportunities for small-business owners to buy their own buildings. Recently Dunbar set out to meet the demand for smaller properties there with the acquisition of 16 office buildings at 27282-27514 Calle Arroyo. The freestanding buildings allow for both standard and medical offices.
The buildings range from about 2,200 SF to 7,300 SF, and Dunbar plans to invest capital to improve them and sell the buildings off individually to owner-users or investors. "The market is dominated by entrepreneurial businesses, many of whom would like to own their own office building," Ross says. Voit Real Estate Services' Rob and Hayden Socci repped both buyer and seller.