Bolour Associates has sold Cerro, a 71,464-square-foot institutional-quality office building in Mission Viejo, Calif., for $24 million.
JLL represented the seller and procured a high-net-worth private buyer.
Cerro is located on a 3.82-acre site at 27401 Los Altos just east of Interstate 5 and close to State Route 73. The property is positioned within South Orange County, which is rapidly expanding as a tech and life sciences hub and is home to a strong and growing housing market. Cerro is surrounded by a variety of amenities, including The Shops at Mission Viejo, which offers more than 150 stores and restaurants, and Kaleidoscope Retail Center.
Renovated in 2018, Cerro is currently 94 percent leased to a diverse roster of healthcare and GSA tenants, including Pulte Homes, United States GSA, Crown Valley Imaging and Sovereign Surgical Holdings. The four-story building offers modern finishes, a new lobby and parking for more than 265 vehicles.
