CBRE SELECTED TO MARKET THE HISTORIC MARYWOOD PASTORAL CENTER IN ORANGE ON BEHALF OF THE CATHOLIC DIOCESE OF ORANGE
Orange, Calif. (October 8, 2012) – CBRE has been hired to market the sale of one of the most iconic religious campuses in Southern California on behalf of the Catholic Diocese of Orange County. The Diocese plans to vacate the Marywood Pastoral Center campus, which it has occupied since 1978, when it relocates to the recently-acquired Christ Cathedral, formerly known as the Crystal Cathedral. The CBRE team of Ted Snell, Eric Knowles, Christopher Bates and Susan Chaplin are handing the sale on behalf of the diocese.
Located at 2811 East Villa Real Dr. in Orange, the Marywood Pastoral Center sits on more than 15 acres of hilltop land. The property is going to market unpriced and will be marketed to a very specific type of user, including those looking for educational uses, government, corporate and other religious uses.
“This is a very unique site with approximately 100,000 square feet of space that can accommodate a number of unique uses, so we expect interest to come from a wide variety of potential buyers,” said Mr. Snell, who adds that the core team will be partnering with CBRE practice groups, such as Public Institutions and Educational Services based in Washington D.C., to market the property to niche investors both nationally and internationally.
In addition to the many potential alternate uses for the property, Mr. Knowles who leads CBRE’s national Religious Facilities practice noted, “This is one of the largest religious facilities to be marketed for sale in Southern California in recent years, and for that reason, it is considered rare opportunity for another church that may be ready to expand to a campus of this size and scope. We expect that several growing religious congregations and private religious schools will be taking a close look at this site.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2011 revenue). The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.
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