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March 28, 2018  

Core-Plus Office Play in California

Barings is marketing a Southern California office building that could attract bids of $110 million from core-plus investors.The 303,000-square-foot Atrium, in Irvine, is 90% leased. Newmark is representing Barings, a Charlotte investment-management unit of Mass Mutual.The pitch is that a buyer could raise rents as leases roll over in the near term. The average in-place rent of $32.40/sf is well below the market asking rates of $37.20/sf for...

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