Costa Mesa Creative Office Complex Draws $48M

An office complex, mostly occupied by Emulex Corp., a hardware tech firm, was just bought by Steelwave & Goldman Sachs in a deal brokered by CBRE for $48 million.

It is a 180,000-square-foot office campus that has two vacant buildings that totals 84,000 square feet. Steelwave would like to reposition the vacant parts of the asset into a creative-office complex, with help from CBRE.

The area has vacancy rates that are as low as 9.7 percent, said Paul Jones, a CBRE first vice president. The complex sits on just more than 14 acres, and the demand for Costa Mesa creative office is reportedly soaring.