U.S. Stanton Road Capital buys office tower in Orange County for $44.3 mln

PRES Cos., a U.S. commercial real estate investment and operating company, has closed on the divestment of TriCentre, a 10-story, Class A office tower in Orange County.

Completed in 1986, the 211,916-square-foot property is located at 333 S. Anita Drive, at the so-called Platinum Triangle, where Interstate 5, State Route 57 and State Route 22 converge.

PRES Cos. sold the asset to Stanton Road Capital, a Los Angeles-based commercial real estate investment management firm, for $44.3 million, or $209 per square foot.

Stanton Road Capital is planning significant refurbishments to attract more high-value tenants. Planned upgrades include a fully overhauled lobby and courtyard and numerous base building renovations.