Commerce Center Office Condominiums

Commerce Center, located in south Orange County is an office condominium project of two separate office structures, totaling 33,000 square feet.

In order to become a successful investment, this project required a completely different business plan. Working with ownership, Griffin Asset Management Company performed budget and proforma analysis and engaged in financing consultations for different project scenarios. After the project was “green-lighted”, Griffin Asset Management Company secured entitlements and a new Tract Map with the City of San Clemente to convert this project from multi-tenant lease space to For Sale units. Griffin Asset Management Company then performed requisite construction management services and oversaw the marketing/sales efforts to make this a successful conversion.

Griffin Asset Management Company also negotiated a long-term lease for some of the For Sale space that enabled ownership to sell a series of condominiums to a pension fund advisor whose investment goal was current income and long-term appreciation. Griffin Asset Management Company assisted in all of the negotiations for this particular exit strategy.