Business

Santa Ana office towers acquired by Blackstone Group

Real EstateJones Lang LaSalle IncorporatedBlackstone Group, L.P.

Two Santa Ana office towers near the 55 Freeway have sold for $82.5 million to a New York private equity investment firm.

Blackstone Group bought 1 and 2 MacArthur Place from GLL Real Estate Partners, real estate brokerage Jones Lang LaSalle said. The nine-story buildings have a combined total of nearly 410,000 square feet.

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The properties are located on the same site as retail and residential properties and are also near John Wayne Airport. The neighborhood is one of Orange County’s most popular office markets.

“The airport submarket has seen a significant increase in office leasing activity, which should result in heightened tenant interest and a significant value-add opportunity for Blackstone,” said broker Michael Zietsman of Jones Lang LaSalle.

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roger.vincent@latimes.com

Twitter: @rogervincent

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Real EstateJones Lang LaSalle IncorporatedBlackstone Group, L.P.
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