Irvine Office Buy Offers Robust Rental Growth

A one-story office property in Irvine located at 2300 Michelson Dr. is a 24,031-square-foot building located in the Greater Airport Area, an office market with strong fundamentals, positive net absorption, lack of available space and robust rental rate growth. The building at the corner of Von Karman and Michelson recently sold to a private investor for $10.8 million.

CBRE’s Anthony DeLorenzo, Gary Stache, Doug Mack, Bryan Johnson, John Weiner, Rocky Binswanger and David Freitag represented the seller, a private local investor.

“The property’s central location provides irreplaceable access to Orange County’s most prestigious and coveted business corridors,” said DeLorenzo. “According to our forecasts, the OC is projected to add 68,000 new jobs over the next five years with rent growth projected to be among the highest in the country. That makes high-quality strategically located office buildings such as this highly coveted among investors.”