CBRE Arranges $11.75 Million Sale of Anaheim Office Building at AXIS for Parkterra and JEN Partners

CBRE has arranged the $11.75 million sale of a 49,733-square-foot, three-story office building at the AXIS campus in Anaheim, California, with a local owner-user acquiring the property from a joint venture of Parkterra and JEN Partners.

The building at 2190 South Towne Centre Place in Anaheim's Platinum Triangle submarket sold for approximately $236 per square foot. The sale represents the first disposition from the AXIS campus since Parkterra and JEN Partners acquired the larger portfolio in 2025.

Brokerage Team and Transaction Details

CBRE's Anthony DeLorenzo, vice chairman with National Office Partners, along with Sammy Cemo and Bryan Johnson of Private Capital Partners, represented the sellers in the transaction. The buyer was a local owner-user.

"Office buildings in walkable locations like Anaheim's Platinum Triangle continue to attract interest from both investors and owner-users," DeLorenzo said. "This asset offers stable in-place income with the flexibility for future occupancy."

The $11.75 million sale price compares to the roughly $204 per square foot that Parkterra and JEN Partners paid when they acquired the broader AXIS campus — a 306,664-square-foot portfolio spanning 2121–2170 Towne Centre Place and 2390 Orangewood Avenue — for approximately $62.5 million in 2025.

Parkterra and JEN Partners Execute First Step of Business Plan

Aaron Talarico, president of Parkterra, said the sale reflects the strategy the joint venture established at the time of acquisition.

"The sale of 2190 executes the first step of the business plan we set at acquisition," Talarico said. "The building was always best suited to an owner-user, and this outcome allows the venture to focus on the remainder of the campus, where we see significant remaining value."

Parkterra and JEN Partners continue to own the remaining buildings within the AXIS campus. The campus was acquired with components described as a creative office building tailored for owner-users, a prime residential redevelopment site, and a high-end office asset with stabilized income.

AXIS Campus and Platinum Triangle Location

The AXIS campus sits in Anaheim's Platinum Triangle, a mixed-use district that combines entertainment, residential, and office development. The property at 2190 South Towne Centre Place is located across from Angel Stadium and near the Honda Center.

The campus offers direct access to Interstate 5 and State Routes 57 and 22, with connectivity to State Route 55. Campus amenities include indoor and outdoor tenant spaces, outdoor conference areas, exercise facilities, outdoor Wi-Fi, and proximity to the Santa Ana River trail and the ARTIC transit facility.

The Platinum Triangle's mixed-use development trajectory has drawn repeated attention from office investors and repositioning specialists. The submarket's combination of entertainment anchors, residential growth, and freeway connectivity has been cited as a driver of owner-user and investor interest in office assets within the district.

Market Context: Owner-User Demand in a Shifting Office Market

The $236-per-square-foot pricing at 2190 Towne Centre Place represents a premium relative to the broader AXIS campus acquisition cost, consistent with the building's characterization as suited for an occupier rather than an investment-hold asset. A nearby Platinum Triangle office property at 2300 East Katella Avenue, totaling 69,032 square feet, sold for $15.1 million, or approximately $219 per square foot, providing a recent comparable in the submarket.

For Parkterra and JEN Partners, the disposition recycles capital from the owner-user-oriented component of the campus while retaining assets the venture believes carry additional upside through continued office leasing or redevelopment potential within the Platinum Triangle.

Sources

CBRE Press Release: CBRE Arranges $11.75 Million Sale of Anaheim Office Building