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IRA Capital Claims Aliso Viejo’s Element for Nearly $74M

Irvine-based IRA Capital acquired Element, a 160,000-square-foot corporate campus in Aliso Viejo, CA for $73.5 million. The seller was a JV between CrossHarbor Capital Partners and Waterford Property Company. The property at 26600, 26650 and 26700 Aliso Viejo Parkway, consists of three, two-story buildings and spans more than 12 acres.

Last year, Glaukos Corporation selected Element as its new corporate and R&D headquarters. The ophthalmic medical technology and pharmaceutical company signed a 13-year, NNN lease, and purchased excess land for future development and expansion.

Waterford Property Company’s John Drachman says, “When we originally acquired the former campus headquarters of QLogic in Aliso Viejo, our team put together a business plan to turn the vacant campus into a state-of-the-art creative office project.” He noted they spent millions upgrading all aspects of the project.

NKF’s Kevin Shannon, Paul Jones, Ken White and Brandon White represented the seller, along with JLL’s Byron Foss, Nick Carey and Curtis Ellmore. The buyer acquired the campus through a JV with a Middle East-based capital partner.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition
  • ◦Lease