Diversified real estate investment trust PS Business Parks Inc. closed the sale of Corporate Pointe Business Park in Orange County, Calif., for net proceeds of roughly $41.7 million.
The park comprises five multitenant office buildings that span about 160,000 square feet in aggregate. The buildings were 97.6% occupied at the time of the sale.
The property was part of 705,000 rentable square feet of office space in the area that the company had previously earmarked for sale.
