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August 18, 2018
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ORANGE COUNTY NEWS
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CB Global Investors Spends $120 Mil on OC Office Tower

1/10/18

CB Global Investors completed a $120 mil office acquisition, picking up 2600 Michelson, a 16-story, 311k sf ($386/sf) tower in Irvine. The Class A trophy property is 99% occupied with major tenants including Loan Depot, Jacobs Engineering, Zillow and Premier Business Centers.

Built in 1986 with an extensive renovation that was completed last year, the property is situated on approximately 4.6 acres in the Greater Airport Area submarket of Orange County. 2600 Michelson features a polished granite and glass exterior, a two-story lobby that overlooks a koi pond and courtyard, and a five-story adjacent parking structure.

2600 Michelson is within within walking distance to a number of amenities including Houston’s restaurant, Mother’s Market and LA Fitness, among others. Additionally, adjacent to the property is Central Park West, a new mixed-use urban village, while TRADE retail center is a five-minute walk and features more than 30 micro-restaurants, bars and shops. The asset is within one of the region’s most prestigious business hubs and offers easy access to the airport, 405, 55 freeways and SR-73.

Kevin Shannon, Paul Jones, Ken White, Brunson Howard and Blake Bokosky with NKF Capital Markets represented the seller, Ocean West Capital Partners. The buyer was self-represented.

“2600 Michelson was a very rare opportunity to purchase an iconic Class A office tower in the center of the John Wayne Airport submarket in Irvine,” said Jones. “The visibility from the 405 Freeway and the 360 degree unobstructed views, in addition to the tremendous upgrades and improvements from the seller, make the property a great long-term hold for new ownership at a discount to replacement cost.”






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