Raytheon Offices Sell to Family Investor for $77M

Cushman & Wakefield advised the sale of an existing 405,130-square-foot office campus in Fullerton. Located at 1801 Hughes Dr., the North Orange County property is fully leased to defense contractor Raytheon, an investment grade credit tenant. The property sold to a local family investor for $76.5 million, or approximately $188 per rentable square foot / $52 per land square foot.   

Nico Napolitano, Jeffrey Cole, Jeff Chiate, Rick Ellison, Scott Selke and Brad Brandenburg of Cushman & Wakefield’s Capital Markets Team in Southern California represented the seller, a partnership of a global real estate investment, development and management firm and a global investment manager.

“The asset’s 1985 lease agreement is flat, significantly below-market, and has substantial lease term remaining,” said Napolitano. “The combination presented a tremendously rare opportunity to acquire one of the largest and well-located sites in Orange County at an extremely attractive cost basis.”

Connect Orange County will take place Sept. 27, 2023 at VEA | Newport Beach Marriott in Newport Beach, concurrently with Connect Healthcare Real Estate on Sept. 27 and 28. Click here to register for Connect Orange County, and here to register for Connect Healthcare Real Estate.