Broadcom Acquires Irvine Headquarters Campus

PRP Real Assets, a privately held real estate investment and management company headquartered in Washington, DC, has sold the Broadcom Corporate Campus in Irvine. Broadcom acquired the property from PRP for $325 million.

The 660,893-square-foot campus within the Irvine Spectrum District consists of two five-story office buildings located at 15101 and 15191 Alton Pkwy. Completed in 2017 and 2018, the campus was designed by Gensler as Broadcom’s corporate headquarters with significant research-and-development capabilities and includes 2,989 parking spaces across its 9.6-acre site.

“Broadcom’s decision to acquire the campus underscores the property’s importance to the company’s operations and validates the principles behind our Mission-Critical Net Lease strategy,” said Paul C. Dougherty, president of PRP Real Assets. “The campus combines a high-quality asset, a strong tenant and an irreplaceable location in one of the nation’s leading technology markets. We are pleased to have delivered an excellent outcome for our investors and appreciate Broadcom’s collaborative approach throughout the transaction.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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