NGKF Capital Markets has completed the sale of 18401 Von Karman, a five-story, Class A, 114,724-square-foot office property in Irvine, CA, located in the heart of the Irvine Business Complex.
“The 18401 Von Karman building offered the buyer the opportunity to expand its holdings from two to three properties within the Von Karman Towers Office Park. This asset allows the new ownership to strategically target tenants looking for space in a mid-rise building versus their two existing high-rise towers directly across the central courtyard,” said Paul Jones, senior managing director with NGKF in its Newport Beach office.
Built in 1983 and renovated over the past few years, 18401 Von Karman is situated on just over one acre of land and is directly across Michelson Drive from the newly redeveloped TRADE retail center. It offers contemporary interior finishes, abundant landscaping with outdoor seating areas, ample surface and structured parking, and highly visible corporate signage opportunities. The property includes tenants such as RSM McGladrey, IBI Group, Fragomen Worldwide and Harbottle Law Group.
The building represents the third office investment transaction by this NGKF Capital Markets team within the Greater Airport market over the past several months. In September, the team successfully closed 17911 Von Karman, a 103,620-square foot office building located in Irvine, CA as well as Newport Irvine Center, a 75,694-square foot office building in Newport Beach, CA which closed in October.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.