La Paz Office Plaza
25401 Cabot Road
Laguna Hills, California, CA 92653
USAA Realty Company's managed asset, La Paz Office Plaza is located in Laguna Hills, California, in the heart of South Orange County. La Paz Office Plaza incorporates seven two story, garden style office buildings totaling 180,650 square feet, on approximately eighteen acres of land. The rent roll is dominated by small entrepreneurial businesses and sole proprietorships that are attracted to the project's garden office characteristics such as open-tiled courtyards, sparkling fountains, lush landscaping and convenient parking. Floor plans range from 200 to 11,000 square feet with the average sized tenant occupying approximately 800 square feet. The open courtyard design makes it possible for tenants to enjoy the convenience of having the buildings remain open seven days per week. Benches located around the sparkling fountains are utilized for outdoor meetings, lunches and breaks. The buildings were completed in 1978, utilizing wood frames, stucco walls, tile roofs and solar bronze glass encased in wood frames.
A lighting retrofit was completed in the summer of 2001. High-energy bulbs and ballasts were replaced with environmental-friendly T-8 bulbs and electronic ballasts. The total investment of $106,000 was offset by a rebate from the energy provider in the amount of $41,632, netting a final landlord cost of $64,368. In addition to this rebate, the project was successful in reducing its energy use and qualified for an added $57,000 rebate from the state of California's 20/20 program. Hence, the out-of-pocket expense for this retrofit was less than $8,000. With annual energy savings of approximately $67,000, the payback was less than two months.
USAA Realty Company strives to provide both tenants and building owners the maximum value for every dollar allocated to the asset. In addition to the above retrofits, USAA evaluated and procured power at substantially lower costs than current utility pricing; this procurement strategy is estimated to save over $164,000 over the next three years. Conservatively, the above improvements and power procurement will increase the building's value by almost two million dollars.
USAA Realty Company manages over ten million square feet of space nationally and is committed to providing best in class service to both tenants and owners of income property. We are proud to have achieved the Energy Star designation at La Paz Office Plaza and are committed to this program on a national level.
Please note: Narrative information in this profile has been provided by Prime Real Estate Equities I or a representative of this facility. Other building information was verified and submitted to EPA at the time of application. Building energy performance, operating characteristics, and ownership/management may be subject to change over time.
Prime Real Estate Equities I
Year(s) Labeled (Rating):
Facility Type: Office
Total Floorspace: 180660 sf
Year Constructed: 1976
Contract Type: None