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Koll Company Sheds Sky Park with its Diversified Rent Roll
Sky Park, an 81,551-square-foot three building office campus in Irvine, CA, recently sold to a private family office. The price was undisclosed.
Newmark’s Kevin Shannon, Paul Jones, Sean Fulp and Brandon White represented the seller, The Koll Company.
“Sky Park is a quality low-rise project located within Irvine’s strong office market that underwent a recent capital improvement investment,” said Jones. “The buyer views the property as a steady cashflow investment that they plan to hold long term as an asset for future generations.”
The property, originally developed in 1975 by The Irvine Company and extensively renovated in 2019, is on a single parcel totaling 5 acres surrounded by a greenbelt perimeter. Sky Park provides immediate access to the San Diego (I-405), Costa Mesa (SR-55) Freeways and the San Joaquin Hills Transportation Corridor (SR-73).
“Sky Park has proven to be a historically well-occupied office building with a diversified rent roll that, with recent capital infusion, will continue to remain competitive for years to come,” adds White.
