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1/08/16
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In a recent OC office buy, New York Life Real Estate Investors purchased 18201 Von Karman, a 229k sf, 11-story Class A building in Irvine. The asset was sold by American Realty Advisors.
The property is located south of the 405 Fwy and west of Jamboree Rd, just a couple of blocks east of John Wayne International Airport. It is within Orange County’s premier Greater Airport Area Submarket, an area which features tenants in the technology, engineering, media, entertainment, financial services and creative office fields.
According to David Hubbs, Senior Portfolio Manager at American, 18201 Von Karman has all of the characteristics that institutional buyers of core product are seeking, including a great location, high occupancy, recently renovated common areas inside and out, amenities within walking distance, and strong curb appeal.
Ryan Gallagher and Mike McCann of HFF represented the seller in the transaction. New York Life Real Estate Investors is a subsidiary of New York Life Insurance Company. The price was not disclosed.
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