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ORANGE COUNTY NEWS
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Costa Mesa Sale is for a 63k sf Creative Office Property

6/27/18

A 62.9k sf, creative office campus in Costa Mesa sold for $13.7 mil ($218/sf). Located at 660 Baker St, the campus, which is currently undergoing an extensive remodel, contains four office buildings – one a 7.7k sf single-story building and three two-story buildings between 14.9k sf to 20.2k sf in size – along with a revamped courtyard with outdoor workspaces and upscale furnishings.

The property, which was mostly vacant at the close of escrow, is undergoing a remodel that will be completed by the end of 2018. The overhaul of the site will continue the gentrification of the Baker/Bristol corridor that has been seen a number of creative office and retail projects come to the area over the past few years.

660 Baker St is a short walk to clothing, lodging and a variety of retail amenities, such as The Camp, The Lab, Mitsuwa Marketplace, Wahoo’s Fish Tacos and Barley Forge Brewing Co. It is also in proximity to South Coast Plaza and John Wayne Airport.

More than 587,005 inhabitants live within a five-mile radius of the project. The project has easy access to the 5, 55, 405, and 73 freeways and presents a high visibility location with major street frontage.

Keith Black and Ross Bourne of CBRE represented the buyer, Dunbar Real Estate Holdings, in the transaction. The seller, Ko’s Baker Center INC, was repped by Tom Nguyen of Hopkins Real Estate.

“It is a rare opportunity for a tenant to have their own creative-office campus in the heart of Costa Mesa,” said Black. “This state-of-the-art property will provide the kind of working environment companies are looking for today, especially after the new owner has completed the renovations to the buildings and common areas.”






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