City Tower is accessible by three major freeways and
situated in a prime location within its submarket. In addition to being the
tallest office building in the area, onsite amenities include a six-level
parking structure, café and Zagster bike service.
Additionally, City Tower is within walking distance of The
Outlets of Orange, which offer tenants a variety of retail, dining and
entertainment options. Angel Stadium, Honda Center, the Grove of Anaheim as
well as Disneyland Resort and Theme Park are all in close proximity to the
property, providing tenants great access to a dynamic ‘live, work, play’
“City Tower’s location makes it particularly appealing to
companies and employees within the Orange County area given its accessibility
to businesses, residential space and recreational opportunities,” said Shep
Wainwright, senior vice president at KBS and asset manager for the property.
“We are pleased to acquire the property as a strong addition to the KBS
Strategic Opportunity REIT portfolio.”
The building was developed in 1988 and partially renovated
in 2015. In the coming year, KBS plans to make additional improvements that can
add to the property’s appeal and provide a topnotch tenant experience.
Renovations will include updates to the exterior entrance and lobby, an
indoor/outdoor tenant lounge and a fitness facility complete with locker rooms,
showers and towel service.