ORANGE, Calif. – March 19, 2018 – Cushman & Wakefield proudly announced today the firm has been hired by owner KBS, on behalf of its Strategic Opportunity REIT, to perform a breadth of services including Leasing, Property Management and Project Management for City Tower, a premier 435,177-square-foot (sf) office high rise in Orange County, California. Located at 333 City Boulevard West in the city of Orange and standing at 21 stories high, the building represents the tallest office tower in central Orange County and the third tallest office building in all of Orange County. KBS Strategic Opportunity REIT recently acquired the Class A asset from Torchlight Investors.
John Harty, Executive Managing Director and Jason Ward, Managing Director of Cushman & Wakefield’s local Orange County office will lead the Leasing Services team. Mitch Sigband, Director and Lorraine Drown, Senior Property Manager of the firm will lead the Property Management team. Johnathan Haghani, Project Manager and Karinna Cassidy, CPM®, Senior Managing Director, Asset Services of Cushman & Wakefield will provide additional support to the management team, with Paul Klink, Executive Managing Director, Investor Services, serving as advisor for all three service lines.
Mr. Harty said, “We are ecstatic to have been selected for the multi-service assignment of City Tower, a best-in-class office property that has long-been an iconic fixture in Orange County. KBS plans to provide major enhancements to the asset which will allow it to continue to attract and retain the best tenants.” He added, “Cushman & Wakefield provides a powerful platform of client-first services that work efficiently, effectively and cohesively and the deeply experienced project team we have assembled looks forward to providing the highest standard of professionalism to KBS and City Tower.”
The building is approximately 78% leased to a number of national, credit tenants and regional professional service firms.” Mr. Ward noted, “A superior option for businesses, City Tower currently offers tenants a variety of small and large spaces immediately available for occupancy.”
City Tower was developed in 1988 and in 2015 underwent a multi-million dollar partial renovation. In the coming year, KBS stated it plans to make additional improvements that can add to the property’s appeal and provide a topnotch tenant experience. Renovations will include updates to the exterior entrance and lobby, an indoor/outdoor tenant lounge and a fitness facility complete with locker rooms, showers and towel service.
City Tower represents a LEED Gold certified trophy asset and Energy Star designation. The marquee high-rise features an elegant lobby with superb finishes throughout, and is surrounded by lush landscaping creating a serene setting for tenants and visitors alike. Other key features include its exquisite panoramic regional views, a six-level parking structure and on-site amenities including full-service car detailing and a dedicated café designed to efficiently serve tenants with the best in culinary delights. The property’s sought after location also lends great access to retail, cultural, entertainment, and expanding housing options, as well as to multiple major freeways and public transportation services.
Mr. Sigband said, “We are thrilled about the opportunity to work with KBS in Orange County as we expand our relationship from a national perspective.” He added, “City Tower is recognized as one of the premier high-rise office buildings in all of Orange County, and we are pleased to add this asset to our Southern California portfolio and steward it to further prominence in the central Orange County market.”
Cushman & Wakefield’s Property Management Services is currently responsible for the management of approximately 8 million square feet of commercial real estate located in Orange County, while as a firm, Cushman & Wakefield currently manages 700+ million square feet in the U.S. and Canada. For more information about the firm’s Asset Services platform, visit http://www.cushmanwakefield.com/en/services/property-asset-management/.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.