Lincoln Property Selected as Property Manager of City Tower
Trophy office property in the heart of Orange County was purchased by Torchlight Investors
ORANGE, Calif.--(BUSINESS WIRE)--Lincoln Property Company has been selected as the new property manager of City Tower, the most prominent office building in Central Orange County. The selection was made after a competitive RFP process following the acquisition of the property in March by a Torchlight Investors fund.
“We are thrilled to bring Lincoln Property Company on board as they share Torchlight's vision for City Tower, the premier office building in Central Orange County”
The 21-story, Class A office tower is situated on 4.92 acres in the heart of the City of Orange, offering 413,956 rentable square feet within a unique octagonal-shaped building design. The property has prime transportation access and visibility to the Santa Ana (I-5), Garden Grove (I-22) and Orange (I-57) Freeways, providing excellent access throughout Orange County and the greater Los Angeles region. The property includes an adjacent five-level parking structure and additional surface parking. Offices within the tower enjoy panoramic views of the ocean, mountains and surrounding cityscape.
Available space is located in highly desirable floors and offering flexible floor plates, as well as contiguous entire floors. Torchlight Investors plans to enhance City Tower’s landmark status with upgrades to the building entrance area, main and elevator lobbies, building corridors and exterior landscaping. Lincoln will be responsible for construction oversight for the improvements.
“We are thrilled to bring Lincoln Property Company on board as they share Torchlight's vision for City Tower, the premier office building in Central Orange County,” said Gianluca Montalti, Head of Asset Management at Torchlight Investors.
The building is currently represented by the leasing team of James Estrada, Jay Nugent and George Thomson with Jones Lang LaSalle (JLL). Jay Nugent, Senior Vice President at JLL, praised the management decision. “Lincoln Property Company has a tremendous track record of successfully managing many of the most notable buildings in the region,” he said. “City Tower is already considered by many real estate professionals and tenants to be the top office building in this submarket, and bringing Lincoln’s expertise on board to manage the building will only help to solidify City Tower's status as a local landmark.”
Tenants at City Tower have access to a wide variety of amenities within walking distance, including an LA Fitness center, a DoubleTree by Hilton hotel and the Outlets at Orange, a Simon Properties-owned mall with 114 retailers, a variety of themed restaurants, express eateries, gourmet coffee shops and a mega-movie complex. Regional facilities and attractions within close proximity to City Tower include UCI Medical Center, Children’s Hospital of Orange County (CHOC), John Wayne International Airport, Disneyland, the Angel Stadium of Anaheim and the Honda Center of Anaheim.
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 100 million square feet of commercial space and over 209,000 multifamily residential units. Lincoln Property Company is one of the largest commercial real estate companies in the world. Visit www.lpcsocal.com for more information.