Stream Realty Partners has been engaged to market the sale of a three-story office building at 20532 El Toro in Mission Viejo, a property totaling 61,418 square feet. The asset, formerly known as Mission Foothills Professional Building, is currently configured for a single user occupying the full building. Its location provides connectivity to Irvine, Lake Forrest, Foothill Ranch, and the broader Southern California region, positioning the property within a network of established employment and residential centers.
The building has undergone extensive renovations prior to coming to market. Interior upgrades include creative office finishes with open plenum ceilings that support a more modern workspace environment. Restrooms have been modernized, and collaborative kitchen areas have been added to better serve contemporary office users and support team-based workstyles.
In addition to interior enhancements, ownership has invested in significant building systems improvements. The property now features a new roof and updated HVAC systems, as well as upgraded plumbing and electrical infrastructure throughout the building. These capital improvements are designed to reduce immediate maintenance requirements and lower near-term execution risk for a future owner focused on either occupancy or repositioning strategies.
According to Stream Realty Partners, the current configuration as a full-building opportunity can be adapted to a multi-tenant layout. The building can be demised into six pods, creating flexibility for investors or owner-users who wish to lease space to multiple tenants and establish diverse income streams. This potential for demising is a central element of the business plan options being presented to prospective buyers.
Stream Realty Partners notes that the property is intended to appeal to a broad range of buyers active in South Orange County. In addition to a straightforward multi-tenant office strategy, the building is described as suitable for alternative scenarios such as a condo conversion, where office suites could be sold individually, or a medical-adjacent conversion, reflecting proximity and relevance to healthcare-related demand. The site is also being positioned as a candidate for long-term strategic land banking, with buyers able to hold the asset while benefitting from the recent building and systems upgrades already completed by prior ownership.
Mike Adams, managing director at Stream Realty Partners, characterized 20532 El Toro as a compelling opportunity due to its renovation profile, flexible layout, and range of potential uses. He emphasized that the capital invested by the previous owner in both interior improvements and core building systems helps to mitigate near-term risk for the next buyer, who can focus on leasing, conversion, or long-term ownership strategies rather than immediate repair or replacement projects.
