The Anaheim office campus known as Axis — the former home of The Orange County Register headquarters — traded hands again, this time for $62.5 million.
The 302,630-square-feet, five-building portfolio, which sits on 14 acres across the street from Angel Stadium at Rampart Street, last sold in 2018 for $83 million.
The building addresses in the city’s Platinum Triangle include: 2121-2170 S. Towne Centre Place, 2190 Towne Centre Place and 2390 Orangewood Ave.
The buyer, ParkTerra and JEN Partners, paid $62.46 million.
The transactions closed July 11. CBRE represented the buyer and the seller, a joint venture between Goldman Sachs and Pendulum Property Partners.
“The Axis portfolio generated strong interest from a broad spectrum of investors, developers, and owner-users,” said Anthony DeLorenzo at CBRE. “The seller ultimately selected a capable cash buyer…”
The Register, previously based along Grand Avenue in Santa Ana, moved to a three-story building at 2190 S. Towne Centre Place in April 2017. The newsroom and its executive, advertising and marketing office exited the Axis building during the pandemic.
The county’s office market continues to limp along after the pandemic shifted tens of thousands of people to work-from-home offices.
Office vacancy is rising mid-year, according to a report out Thursday, July 31 from J.C.Casillas at NAI Capital.
“During the second quarter of 2025, the Orange County office market experienced a modest 0.3% decline in occupied space quarter-over-quarter,” Casillas wrote. “This contributed to a 10-basis-point year-over-year increase in the vacancy rate, which rose to 12.8%, totaling 20 million square feet of vacant office space.”
Casillas said landlords are working to improve occupancy, using concessions such as rents discounts, free rent periods, and flexible lease terms.
Anaheim retail center snares $11.3 million
Also in Anaheim’s Platinum Triangle, a 15,710-square-foot retail strip center next to Angel Stadium sold July 17 for $11.3 million.
Hanley Investment Group represented the seller, an unidentified investor in Los Angeles. The buyer was Vista Emerald LLC, and was represented by Beacon Realty Advisors in Del Mar.
“This transaction illustrates ongoing investor interest in internet-resistant, service-oriented retail centers — especially those with essential tenants—located in prime Orange County markets,” said Lee Csenar at Hanley.
The shopping center, called Pique at Angel Stadium, was formerly The Shops at Stadium Towers. Completed in 2006 on 2 acres at 2406-2432 East Katella Ave., it features eight tenants, including Comerica Bank and several restaurants and service-oriented businesses.
Hanley noted that 50% of the leases have terms of at least four years remaining.
Nearby, work continues on the $4 billion OCVibe development adjacent to the Honda Center.
Anaheim apartments fetch $7.6 million
A 31-unit apartment property at 1776 W. Glencrest Ave. in Anaheim sold for $7.6. million.
Glencrest Apartments has been owned by the same family for 30 years, according to Tyler Leeson, the founder of The Leeson Group Marcus & Millichap. The brokerage team sold three of the family’s Southern California properties in a 1031 exchange, swapping local assets for one multifamily property in Las Vegas.
The buyer was not identified by The Leeson Group.
The property, 2 miles from Disneyland, includes one and two-bedroom units with vinyl and tile flooring, ceiling fans, and patios or balconies, courtyards, a swimming pool, and laundry facilities.
BKM spends $17.7M in SeaTac
Newport Beach-based BKM Capital Partners recently paid $17.7 million for a 74,783-square-foot industrial property in SeaTac, Washington.
The investment firm said it bought the property off-market. The industrial Park includes two buildings — an industrial facility and a 19,150-square-foot office building. BKM sold the office building to a Washington investor for $1.2 million.
BKM said it will upgrade paint, landscaping, signage and parking.
“With vacancy hovering near 3%, SeaTac remains one of the tightest industrial markets in the Pacific Northwest and continues to draw tenants migrating out of South Seattle in search of more functional space,” said Brian Malliet, Founder, CEO, and CIO of BKM.
BKM also bought the adjacent SeaTac Industrial Park earlier this year.
On the move
Cody Cannon was recently hired as a senior vice president and market executive at Greysteel, a real estate investment banking firm. He’ll work from the company’s Irvine office, leading its national manufactured housing team, while focusing on growth in California. Previously, Cannon has held leadership roles at Cushman & Wakefield, Colliers International and Marcus & Millichap. “The manufactured housing sector is growing as a compelling asset class for investors — particularly on the institutional side — who are seeking stable, long-term returns,” Cannon said in a statement.
The real estate roundup is compiled from news releases and written by Business Editor Samantha Gowen. Submit items and high-resolution photos via email to sgowen@scng.com . Please allow at least a week for publication. All items are subject to editing for clarity and length.
