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SoCal Investor Pays $42M for Irvine Offices
CBRE negotiated the $42-million sale of 2600 Michelson Dr., a 16-story office building in Irvine, to a Southern California-based private investor. The team of Anthony DeLorenzo, Todd Tydlaska, Sean Sullivan, Sammy Cemo, Bryan Johnson and Grant Goldman represented CBRE Invesment Management.
“We were privileged to handle this lender-facilitated sale and pleased that we could identify a buyer that appreciates the location, quality and basis,” said Tydlaska. “2600 Michelson has historically outperformed the Greater Airport market in terms of occupancy and rate, and the new owner intends to continue that trend.”
Located on 4.6 acres in the Greater Airport submarket of Orange County, the 310,925-square-foot office building includes an adjacent five-level parking structure with 1,013 spaces. Built in 1986, the property has undergone extensive renovations; its tenant base includes Zillow and Jacobs. Later this year, the Jamboree-Michelson Pedestrian Bridge will connect 2600 Michelson the property with retail, residential and hospitality amenities at Park Place.
- ◦Sale/Acquisition
