LaSalle Investment Management acquires office building in Orange County

LaSalle Investment Management, a global leading real estate investment manager, has acquired a 216,864-square-foot office building in Orange County, Calif., on behalf of its U.S. value-add fund series, LaSalle Income & Growth.

LaSalle Income & Growth is the firm’s flagship closed-end U.S. value-add fund series and has aggregate capital commitments totaling $3.4 billion.

The fund seeks to acquire under-managed, under-capitalized, or mispriced assets to be repositioned as core assets. It has approximately $12 billion in total transactional volume across the entire series.

4 Hutton Centre, a 10-story building, was renovated in 2008 and 2012, and has been well-maintained by previous ownership. However, LaSalle is looking to upgrade the building’s commo