|
|
8/23/17
|
A joint venture between Greenlaw Partners and Hilrod paid $59.8 mil for 4400 MacArthur, a nine-story, Class A office building totaling 156.3k sf ($383/sf) of space in Newport Beach The property, which is located within the master-planned Koll Center Newport, is 92% leased by multiple tenants including Bank of the West and Fidelity National Title Company.
Built in 1979, 4400 MacArthur was extensively renovated from 2014 to 2016. It features a reflective glass exterior, flexible floor plates, and an exclusive-use two-level parking structure. The property is situated on just under two acres of land on MacArthur Boulevard, one of the busiest corridors in Orange County and offers easy access to the John Wayne Airport, 405 and 55 freeways, as well as State Route 73.
Kevin Shannon, Paul Jones and Blake Bokosky with Newmark Knight Frank (NKF) represented the seller, an East Coast-based pension fund advisor. The buyer was self-represented.
4400 MacArthur was a very rare opportunity to purchase a Class A office tower in the center of the John Wayne Airport submarket in Newport Beach, said Jones. The location, in addition to functional floor plates, prominent visibility along MacArthur Boulevard and the asset being within walking distance to the Pacific Club, make the property a great long-term hold for the new ownership.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
