Birtcher Anderson Nabs Fullerton Towers
IRVINE, CALIF. – March 17, 2005 – Birtcher Anderson Realty has purchased Fullerton Towers, a two-building, 223.6k sf office complex in the city of Fullerton. The property consists of one nine-story tower and one seven-story building, as well as a separate parcel of land, which is ground-leased to Farmer Boys Restaurant for the planned construction of a restaurant. Brokers in the area estimate that the property sold in the mid-$37 mil range, or somewhere around $167/sf..
Fullerton Towers is considered one of the most prominent Fullerton office properties and is situated in the midst of recent and ongoing revitalization within Fullerton city limits. This includes an expansion by St. Jude Medical Center, continuing enhancement to historic Downtown Fullerton, new single and multifamily residential development and new recreational and service amenities.
Fullerton Towers was sold by Jim and Greg Knapp, a father and son team and principals in The Brookhollow Group, which has owned the property since 1983. Brookhollow is a commercial real estate investment and development firm with over 30 years of office and industrial experience in Southern California. The CB Richard Ellis team of Robert Smith, Michael Kane, Karen Scholte and Erin Brehm represented the seller in the deal.
HQ’d out of Laguna Niguel, Birtcher Anderson Realty, is a commercial real estate investment entity founded in March 2004 by industry veterans Arthur Birtcher and Robert Anderson and is part of the Birtcher Real Estate Group Family of Companies. The Birtcher Group has constructed and developed more than 200 commercial and industrial properties comprising more than 50 msf. Birtcher has also acquired in excess of $2 bil of real estate through public and private vehicles and on an advisory basis.
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