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Shopoff Finds Buyers for Two Office Condos at Waypoint Newport
Shopoff Realty Investments has sold two office condominiums in its Waypoint Newport project, located at 4440 Von Karman Ave. in Koll Center Newport in Newport Beach. The project is one of the first office condo conversion projects in the area.
A Street Partners brokered the sale on behalf of Shopoff to two individual buyers, including Suite 270 totaling 1,579 square feet, and Suite 340 totaling 1,127 square feet. Although exact pricing was not disclosed, Shopoff Realty said the condos went for more than $600 per square foot.
“It is no secret that the office market has suffered in recent years as work from home policies dominate the employment market,” said Shopoff president and CEO William Shopoff. “Our team crafted a creative value-add solution for this office product, portioning off this 50,279-square-foot property into individual units for sale. As business owners are seeing the advantages of office ownership, not dissimilar to those of home ownership, office condos like Waypoint Newport are increasingly in demand.”
- ◦Sale/Acquisition


