Shopoff, Invesco Buy Bayside Square in Newport Beach
A joint venture between Shopoff Realty Investments and Invesco Real Estate has purchased Bayside Square, an office building in Newport Beach adjacent to Balboa Island.
Bayside Square totals 35,000 square feet and overlooks Bayside Marina. The Shopoff-Invesco joint venture intends to redevelop the property.
Shopoff will be Bayside Square’s property management firm, and is looking to showcase the property’s value and its very desirable location, said the firm’s executives. John Santry, executive vice president of Shopoff Realty Investments Land Division, said that the firm will also make Bayside Marina more operationally efficient and provide public access to the area.