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PRP Acquires Broadcom HQ in Irvine for $355M
Washington, DC-based PRP completed the previously announced acquisition of Broadcom, Inc.’s SoCal headquarters, a two building, 660,893-square-foot office complex in Irvine built in 2017. PRP’s $355-million acquisition represents the largest sale in Orange County since 2017.
Located at 15101 and 15191 Alton Parkway, the five-story buildings are 100% leased to Broadcom with 17 years of lease term remaining. The Broadcom HQ sits within the Five Point Gateway Campus and is adjacent to the $1-billion City of Hope’s future cancer research facility and hospital complex. The Broadcom facility consists of 25% lab space and 75% office space.
PRP’s Paul C. Dougherty says, “We are thrilled to acquire these trophy buildings leased by Broadcom and have such a great company in our roster of investment-grade tenants.”
The Broadcom acquisition is the first investment by PRP’s Corporate Net Lease General Partner Fund. The seller was Five Point Holdings’ JV, Gateway Venture. Eastdil Secured brokered the sale.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


