A joint venture between Barker Pacific Group and Kingsbarn Realty Capital announced the acquisition of Griffin Towers, an office park featuring twin 13-story office buildings in Santa Ana, Calif. The seller was Blackstone, according to multiple news reports.
Newmark represented the buyer for its debt-financing efforts, as well as the seller.
Located at 5 and 6 Hutton Centre Drive in the South Coast Metro area, the towers were built in 1987, recently renovated and offer about 560,000 rentable square feet of class-A office space, with flexible and efficient floor plans.
“Griffin Towers is an excellent fit to our office portfolio, which now includes eight properties totaling more than 3 million square feet,” said Michael Barker, founder and managing director at BPG. “The property offers a great location to the major freeways, John Wayne Airport and a neighborhood of diverse amenities.”
Major tenants in Griffin Towers include UKG, Mic
