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5/23/25
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A 15.2k sf office property in Newport Beach traded for $11.5 mil, or $757/sf. The property is located at 1303 Avocado Ave, between MacArthur Blvd and Newport Center Dr.
The two-story building sits on a 0.38-acre lot within the Fashion Island market. Built in 1973, the property was 96% occupied at the time of the sale. Its location provides easy access to John Wayne Airport, just off Pacific Coast Highway.
CBRE’s Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Harry Su represented the seller, a local private partnership. The buyer was a local private investment entity.
“The Fashion Island market within Newport Beach is one of the most coveted office markets in the country, driven by its coastal lifestyle, affluent demographics, and consistently strong tenant demand,” said DeLorenzo. “This sale is one of only seven office properties within Newport Center to transact within the last 10 years, making this a truly rare and strategic acquisition opportunity, and as such drew extremely high demand amongst the investment community.”
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