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California  + Orange County  + Office  | 

Offices in Newport Beach’s Fashion Island Market Trade to Family Office

CBRE facilitated the $11.5-million sale of a 15,200-square-foot office property at 1303 Avocado Ave. in Newport Beach to a local family office. The firm’s Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Harry Su represented the seller, a local private partnership.

“The Fashion Island market within Newport Beach is one of the most coveted office markets in the country, driven by its coastal lifestyle, affluent demographics and consistently strong tenant demand,” said DeLorenzo. “This sale is one of only seven office properties within Newport Center to transact within the past 10 years, making this a truly rare and strategic acquisition opportunity, and as such drew extremely high demand amongst the investment community.”

The two-story building sits on a 0.38-acre lot within the Fashion Island market. Built in 1973, the property is at 96% occupancy at the time of sale. Its location provides convenient access to John Wayne Airport, just off the Pacific Coast Highway.

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CBRE's Delorenzo

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).

  • ◦Sale/Acquisition
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