The Whittier Comstock, LLC Acquires Fairway Center II in Brea for $27.85 Million in CBRE-Brokered Deal

The Whittier Comstock, LLC, a subsidiary of MW Investment, LLC owned by Matt Waken, has acquired Fairway Center II, a 135,308-square-foot office property at 675 Placentia Avenue in Brea, California, for $27.85 million, CBRE announced Sept. 16. The deal equates to approximately $206 per square foot.

CBRE represented the institutional seller — identified as Teachers Insurance and Annuity Association of America (TIAA) — in the transaction. Anthony DeLorenzo, vice chairman at CBRE with National Office Properties, along with Sammy Cemo, Bryan Johnson, and Jackson Marlow, handled the sale assignment. Shaun Moothart and Andrew Post of CBRE's Debt & Structured Finance practice arranged financing for the buyer.

Deal Terms and Property Profile

Fairway Center II is a three-story office building situated on 7.38 acres along Brea's Imperial Highway corridor. The property was built in 2002 and underwent renovation activity in 2024. It offers 617 parking spaces, including an on-site parking structure, and provides direct access to State Route 57 with connectivity to Orange County, Los Angeles, and the Inland Empire.

The property was 70.5% leased at the time of sale. The County of Orange serves as the anchor tenant, occupying more than 61,000 square feet under a long-term lease. The remaining space is leased to a diverse roster of office tenants.

Buyer financing was secured at a sub-6% interest rate. "The capital markets environment for office properties continues to improve. We were able to secure financing with a sub-6% interest rate, creating a positive leverage outcome that would not have been possible a year ago," said Shaun Moothart. "The strong lender response reflects growing confidence in well-located office assets with durable tenancy and compelling relative value."

Marketing Process and Buyer Demand

According to Anthony DeLorenzo, the property generated broad interest across buyer types. "Fairway Center II attracted significant interest amongst the investment and owner/user community alike," DeLorenzo said. "We received multiple competitive offers from a variety of buyer profiles and awarded the property to a private investor within the first 30 days of marketing."

North Orange County Office Market Context

CBRE Research notes that North Orange County's office market continues to outperform the broader Orange County office market, supported by limited new construction, strong transportation connectivity, and steady demand for well-located low-rise office properties. Orange County's overall office vacancy stood at 13.3% in the second quarter of 2026, while average asking rents in the market were approximately $2.94 per square foot per month.

Brea's strategic location, educated workforce, and access to multiple Southern California employment centers have contributed to the city's appeal for office occupiers and investors, according to CBRE. Broader Southern California office cap rates were tracking around 7.7% in the third quarter of 2026, reflecting continued pricing pressure across the asset class even as transaction volume has improved.

About the Parties

The Whittier Comstock, LLC is a subsidiary of MW Investment, LLC. CBRE is a commercial real estate services and investment firm. The brokerage team on the seller side included Anthony DeLorenzo, Sammy Cemo, Bryan Johnson, and Jackson Marlow. Shaun Moothart and Andrew Post arranged debt financing for the buyer through CBRE's Debt & Structured Finance group.

Sources: CBRE Press Release