SOURCE: Stream Realty Partners

April 01, 2014 13:20 ET

Stream Realty Wins Leasing and Management Duties of Saddleback Financial Center

Anticipated Renovations to Building and Surrounding Amenities Promise to Greatly Improve Tenant Experience

IRVINE, CA--(Marketwired - Apr 1, 2014) - Stream Realty Partners was recently awarded leasing and management responsibilities of Saddleback Financial Center, a 72,900 square-foot Class A combined medical and office property in Laguna Hills, Calif. It is a four-story building situated in a prime location next to the I-5 Freeway at El Toro Road, adjacent to Laguna Hills Mall, and is currently 62 percent leased. It boasts an upgraded stone-clad lobby, views of Saddleback Mountain and offers available suites ranging from 1,400-18,250 square feet.

Stream Realty plans to reposition and improve the asset in order to attract new tenants to the building. Capital improvements are also planned for both the interior and exterior of the building, including offering spec suites.

"There is a lot of capital funneling into the area surrounding this building," said Mike Adams, senior associate at Stream Realty. "The repositioning of this building will give it a jump start on increasing its occupancy rates as extensive additions and improvements to surrounding amenities begin."

Saddleback Financial Center is located near the intersection of Paseo Del Valencia and El Toro Road, steps away from numerous dining options, Laguna Hills Mall and Saddleback Memorial Hospital. The nearby Oakbrook Village Shopping Center anticipates more than $80 million in mixed-use renovations that will be completed in 2016. The Laguna Hills Mall also released plans to upgrade the property to attract high-end retail tenants.

Stream Realty closed 2013 with a 52 percent year-over-year growth in management and leasing responsibilities, boosting its portfolio to 4.56 million square feet of space in Southern California.

Stream Realty Partners, L.P. is a full-service real estate investment, development and services company. Since its formation in 1996, Stream Realty has grown from its two original partners to a staff of over 450 real estate professionals nationwide with office locations in Washington, DC; Atlanta; Austin, Texas; Charlotte, N.C.; Dallas/Ft. Worth; Denver; Houston; Los Angeles; Orange County, Calif., and San Antonio. Stream Realty leases and/or manages more than 4.56 million square feet of space in Southern California and more than 100 million square feet of commercial buildings in the nation; completes over $1 billion in real estate transactions annually; and is considered one of the most active investors and developers in the Southwest. Stream Realty creates a distinct culture that is best summarized by its company values: Nice. Smart. Honest. Passionate.

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