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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.

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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