REAL ESTATE: Gets 3 buildings, 161,000 SF in Aliso Viejo for $36M
Monday, January 2, 2017
A local investor has acquired the QLogic Corp. campus in Aliso Viejo and is planning to rebrand the site in preparation of the networking products maker vacating the three-building property this year.
Irvine-based Stillwater Investment Group—an investor in office, industrial, apartment and retail properties that began operations in 2014—recently completed the purchase of the QLogic campus on Aliso Viejo Parkway.
The campus totals about 161,000 square feet, and the deal includes about 2.5 acres of excess land that could hold additional development.
Stillwater and its financial partner in the deal, CrossHarbor Capital Partners in Boston, paid about $36 million for the property, according to Stillwater’s founder John Drachman.
The deal works out to a price of about $223 per square foot for the buildings, which were built in 1999.