Monday Properties, a leading national real estate investment firm, announced today its acquisition of Spectrum Tower, a 120,000 square foot multi-tenant office building located at 23046 Avenida de la Carlota Laguna Hills, California.

Purchased from TA Realty, Spectrum Tower is a seven-story property located in the highly desirable South Orange County office submarket. The deal marks Monday Property’s first major acquisition on the West Coast since hiring Managing Partner, Philip Cyburt, in February 2017 to spearhead the Company’s expansion.

“This acquisition is a tremendous accomplishment for Phil and our West Coast team,” said Anthony Westreich, Founding Managing Partner for Monday Properties. “We remain focused on identifying unique investment opportunities and further expanding our footprint in Southern California.”

Spectrum Tower is a Class A multi-tenant office building that is complimented with surface parking with great visibility and access to the 5 and 405 freeways. The property is centrally located and served by the quality amenities within Irvine Spectrum, including one of California’s largest regional outdoor retail centers that contains over 160 stores, 50 restaurants and three hotels.

“The acquisition of the Spectrum Tower building reflects the value proposition Monday Properties’ is seeking as we pursue good yielding real estate assets within major infill markets,” said Phil Cyburt, Managing Partner at Monday Properties. “South Orange County is one of the most active and healthy real estate markets on the west coast that consists of a diverse innovative tenant base, above national averages for income and population growth and a high-quality standard of living.”

The brokers: CBRE was represented by Bob Smith and Anthony DeLorenzo and Philip W. Cyburt, Carl Groner and David Terian represented Monday Properties.

About Monday Properties: Monday Properties is a dynamic real estate investment firm that operates each property within its portfolio. Founded in 1998, the company is an owner, operator and developer of real estate with a primary focus on supplied constrained markets and value add real estate opportunities in growth markets. Since 2002, Monday Properties has completed over $12 billion in over 50 separate transactions, representing 27 million square feet. Monday Properties co-invests its own capital alongside its partners and investors, creating a clear alignment of interest and an incentive to realize value.