Part of Irvine’s ‘The Parc’ Sells for Nearly $16M

Amenity-rich, creative-office asset that is also geographically gifted, Newmark has helped move 7 Corporate Park in Irvine, Calif., for $15.6 million to “an undisclosed private high-net-worth individual.”

The know the players, here’s the scorecard (per a news release):

Newmark Executive Managing Director Paul Jones, Co-Head of U.S. Capital Markets Kevin Shannon, Director Brandon White and Senior Financial Analyst Liam Ogburn, in partnership with Executive Managing Director Sean Fulp and Managing Directors Ryan Plummer and Mark Schuessler, represented the seller, Kelemen Company, an Orange County-based property, asset, and project management firm specializing in commercial real estate. The buyer was an undisclosed private high-net-worth individual, represented by Oliver Ternate and Fouy Ly, of Kidder Mathews. 

7 Corporate Park has benefited from much recent attention. In 2019, the campus underwent major improvements including new lobbies, updated corridors, renovated restrooms, drought-resistant landscaping, LED lighting upgrades and new roof with solar panels, according to the release.