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5/10/24
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We’ve just learned of a 3.73-acre office/data center mixed-use property in Irvine that has been put on the market. The property, located at 2525 Main St, is currently improved with 104.4k sf of office space, 38.9k sf of data center space and a brand new six-story parking garage. The existing multi-tenant office structure was originally built in 1982 and renovated in 2019 and is currently nearly 97% leased to nine tenants.
Additionally, the Orange County site has entitlements approved by the City of Irvine for two seven-story residential towers, potentially providing the market with 150 units of rare luxury-quality living at a time when Irvine-IBC residential development is capped.
2525 Main St is conveniently located in the heart of the Irvine Airport Area, the main corridor adjacent to the 405 Freeway and John Wayne Airport, offering quick access and an abundance of amenities for employees and residents, alike.
Cushman & Wakefield’s Jeffrey Cole, Nico Napolitano, Kristen Bogler, Kevin Nolen and Jason Kimmel with the firm’s Southern California offices are leading the sales marketing efforts for the property. An asking price was not immediately given out.
“This is a very special mixed-use development offering that includes an existing meticulously designed, recently upgraded office (and data center) space with new exterior common areas. The stabilized occupancy, limited tenants (9), and extensive capital invested provides the investment opportunity a rare passive, high-performing, cash-flowing component,” said Cole. “This project, by transforming a commercial property into a residential enclave, stands to provide an exceptional residential location in the County’s Airport submarket while significantly and positively impacting the urban landscape of Irvine.”
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