CBRE: MicroVention Acquires 242,706-SF Office High-Rise Adjacent to HQ in Aliso Viejo for $42.25M

CBRE has arranged the sale of 45 Enterprise, a 242,706-sq.-ft. high-rise office building in Aliso Viejo, Calif., for $42.25 million, or $183 per square foot.

CBRE’s Carol Trapani and Allison Kelly represented the buyer, MicroVention, a neuroendovascular medical device company, in the transaction.

“MicroVention secured the asset well below replacement cost, which will ensure the potential for their long-term growth while locking in a low occupancy cost for the long term,” said Ms. Trapani, senior vice president at CBRE.

45 Enterprise is a nine-story vacant building built in 2007 and renovated in 2022. The property features open floorplates, an on-site cafeteria, conference and meeting rooms, premier building signage and a parking ratio of 4.6 spaces per every 1,000 rentable square feet.

The property is adjacent to State Route 73 and near Interstate 5, providing excellent connectivity throughout Orange County and the entire Southern California region.

“While lease rates have not changed significantly through and post-pandemic, office building values have become very advantageous for owner-user buyers throughout Orange County,” added Ms. Kelly, senior vice president at CBRE.

CBRE’s appraisal services are supported in the sales process, and CBRE project management will manage the construction and occupancy process.