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Stream Realty Partners Announces Sale of Medical Office Building in Laguna Hills for $24.6 Million

ORANGE COUNTY, CA – June 10, 2021 – Stream Realty Partners (Stream), a national real estate services, development, and investment company, is pleased to announce that it has represented Miramar Capital in the sale of Saddleback Professional Center to Healthcare Realty for $24.6 million. The 73,000-square-foot medical office building is located at 24012 Calle De La Plata in Laguna Hills, CA.

Having leased and managed Saddleback Professional Center since 2009, Stream’s Mike Adams, Senior Vice President, and Morgan Adams, Associate, represented the seller, Miramar Capital, and will continue to oversee the leasing. Since 2020, they have completed 14 lease transactions of more than 25,000 square feet at the property.

Over the past several years, Miramar Capital has renovated the building and corridors, improved logistical operations, and proactively identified efficiencies within the parking structure, which they owned. As a result, the landlord has been able to further capitalize on occupancy and maximize value.

“Saddleback Professional Center is the largest sale year-to-date with a medical component in South Orange County,” said Mike Adams. “This is a direct result of Miramar Capital’s deliberate approach to strategically position this building for success, becoming the preeminent landlord in the area. We have truly enjoyed being a partner with them over the past several years to bring this sale to fruition.”

Saddleback Professional Center is ideally located adjacent to MemorialCare’s Saddleback Medical Center and just minutes to Interstate 5, providing convenient access to neighboring communities. It features views of the Saddleback Mountains and is within walking distance to abundant retail and restaurant options.

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