Joint venture buys Orange City Square

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A joint venture between Birtcher Anderson Realty LLC and GE Asset Management completed the purchase of a large office and retail complex in Orange, Calif., for an undisclosed price. Orange City Square, which comprises 386,011 square feet across four buildings, is located at 750, 770, 790 and 840 The City Drive South. Birtcher Anderson, based in nearby San Juan Capistrano, and GE Asset Management, based in Stamford, Conn., acquired the property from Springfield, Mass.-based Massachusetts Mutual Life Insurance Co. Built in 1988, the center is situated on 14.15 acres and was 86 percent occupied at the close of escrow. The property is comprised of three mid-rise class A office buildings totaling 373,619 square feet that include tenants such as Walt Disney Attractions, JP Morgan, Zenith Insurance and J.D. Power and Associates. Orange City Square's campus also encompasses a support retail pavilion totaling 12,392 square feet that includes a gym, auto detailing service, a ...