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Olen Acquires Newport Beach Tower for Record $76M
Olen Properties acquired 4100 Newport Place Drive, a 190,405-square-foot office tower in Newport Beach, CA from American Realty Advisors for $75.6 million. According to the listing brokers, the transaction reflects the highest office investment sale based on price-per-square-foot in all of Orange County in 2017.
Cushman & Wakefield’s Capital Markets specialists Jeffrey Cole, Marc Renard, Ed Hernandez, and Nico Napolitano represented the seller in the disposition.
Cole says, “4100 Newport Place is one of the largest and highest profile office buildings in Newport Beach. The property offers stable in-place tenancy, as well as exceptional value enhancement potential in a dynamic market poised for significant rental rate growth.”
The 190,405-square-foot institutional-quality, Class A office building totals nine stories and sits on a 3.7-acre site. The asset features a dramatic four-story vaulted atrium and resort-style lobby.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


