A 37-year-old office building in Huntington Beach has transformed from the bland Ocean Plaza Tower to a ripping Point Break Tower at Ocean Plaza.
Canadian real estate investor Onni Group, owner of the 14-story building, has given it a new name and interior luster at 17011 Beach Boulevard, the Orange County Register reported.
A new leasing agent, Stream Realty Partners, will open its doors to tenants at Beach Boulevard and Warner Avenue.
The 207,645-square-foot tower, located within an 8.7-acre business campus, includes a gym, basketball and racquetball courts on its two top floors, plus an executive office with a private shower, restroom and wet bar.
Interior renovations include upgraded corridors, restrooms and elevators. It also has a new polished marble lobby, lounge, conference rooms, six-story parking structure and on-site property management and engineering staff.
The tower and its mixed-use plaza date back to the national savings and loan crisis.
Built in 1985 by Mola Development in a mostly residential neighborhood, it was first called Charter Centre. In 1988, it was bought by Guardian Savings for $55 million to be headquarters for the savings and loan, according to the Register.
The lender, one of the originals in the subprime category, was later seized by federal authorities in 1991 after it was determined to be involved in a scheme that hurt borrowers.
Onni, based in Vancouver, bought the 300,000-square-foot tower and retail development for $97.3 million in July 2019.
The firm has been active in building apartments across Los Angeles. In May, it bought a prime, 1.4-acre lot on the Miracle Mile of Wilshire Boulevard for a new residential complex.
The development will mark Onni’s fourth in L.A. In Long Beach, the firm recently bought a 6.2-acre strip mall for $68 million, where it plans to build multifamily housing.
In the Arts District, the firm is building a 347-unit residential tower with 187,000 square feet of office space.
— Dana Bartholomew
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