TriGate Capital and LPC West Acquire Multi-Building, Class-A Office Campus in the Heart of Orange County
TriGate Capital, LLC, a leading real estate investment manager, has partnered with LPC West, the West Coast arm of national real estate firm Lincoln Property Company, to acquire a Class-A office campus in the heart of Orange County. The acquisition of The Square on Main reflects LPC West’s continued positive momentum in the flourishing Orange County market.
Located just east of Interstate 5 at Main Street and La Veta Avenue in the City of Orange, The Square on Main features nearly 420,000 square feet of commercial space serving a diverse range of longtime tenants in both the public and private sectors. The campus is 96.5 percent leased with 13 tenants, including the Orange County Transportation Authority and Western Dental, both tenants of more than 25 years.
“The Square on Main is a landmark commercial project that reflects the vibrancy of the Orange County region,” said Parke Miller, Executive Vice President of Southern California for LPC West. “Along with significant visibility, accessibility and amenities, the campus features great tenants who began to return to work ahead of the curve during the pandemic. It represents a prime example of why we remain bullish on the promise of well-positioned, highly amenitized office space in this market as businesses increasingly return to in-person work.”
The 7.6-acre campus includes two 12-story buildings, one six-story building, two one-story buildings, and a large parking structure. In addition, the site offers full transit accessibility, with access to the 22 and 57 Freeways and numerous airports within 40 miles. The campus is within walking distance of high-quality housing, the Main Place Regional Mall, advanced healthcare facilities, and many other amenities.
Working with TriGate Capital is allowing LPC West to continue expanding its presence in Orange County, the sixth most populous county in the United States and home to many Fortune 500 companies as well as the famed Disneyland Resort in nearby Anaheim. LPC West’s Orange County portfolio consists of approximately 35 properties totaling almost 7.2 million square feet of office, industrial and retail uses.
“We are very pleased to join with LPC West on this acquisition, providing the intellectual capital, structuring experience and operating ability that distinguishes our firm,” said Milan Bhatt, Vice President of TriGate Capital. “We see tremendous potential ahead for this dynamic region and future transactions with high-caliber partners like LPC West.”
LPC West will implement a variety of sustainability upgrades and overall operational enhancements throughout the property to help boost efficiency and limit its environmental footprint. Tenants will also benefit from new technology solutions delivered through LPC Ventures, Lincoln Property Company’s technology incubator. These may include advanced energy management platforms, tenant access solutions, and food delivery upgrades, among other services.
About Lincoln Property Company
Lincoln Property Company founded in 1965 by its chairman Mack Pogue, is a privately-owned real estate firm involved in real estate investment, development, property management and leasing worldwide. Lincoln has offices in all major markets of the U.S. and throughout Europe. Lincoln’s cumulative development efforts have produced over 143 million square feet of commercial space and over 216,000 multifamily residential units. Lincoln Property Company is one of the largest office owner and managers in the United States. Access www.lpcwest.com for more information.
About TriGate Capital
TriGate Capital, LLC (TriGate) is a leading real estate investment manager focused on the recapitalization and repositioning of real estate assets and companies. TriGate is based in Dallas, TX and has current assets under management of nearly $2.0 billion through multiple types of transaction structures. The Company’s professionals have significant expertise in real estate operations, debt restructuring, and asset and company recapitalization.
TriGate manages four fully discretionary real estate funds, TriGate Property Partners, LP (Fully Realized), TriGate Property Partners II, LP (Fund II), TriGate Property Partners III, L.P. (Fund III), and TriGate Property Partners IV, LP (Fund IV) which are the vehicles through which TriGate conducts its investment strategy. Fund II and Fund III are fully invested, and Fund IV is presently in its investment period.