National Western Life Insurance Company sold the Bixby Office Park at 3010-3030 Old Ranch Pky in Seal Beach, CA to Parallel Capital Partners for $85 million, or about $307 per square foot.
The office park totals 297,241 square feet of class A office space built in 1987 on 15.8 acres in the Seal Beach submarket of Orange County. The complex is currently 98 percent occupied to tenants including Baker Corp, SAIC, Olson Urban Housing and others.
Adam Edwards and K.C Scheipe of Eastdil Secured represented the sellers.
Please refer to CoStar COMPS #2687719 for further details on this transaction.