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February 11, 2025
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Irvine Office Building Trades in $37 Mil Deal

1/22/25

An 11-story, 234.4k sf Class A office property in Irvine traded hands in a $37 mil ($158/sf) transaction. The building, 18201 Von Karman, was sold by New York Life Real Estate Investors and acquired by an unnamed private local operator.

18201 Von Karman is positioned in the heart of the Irvine Business Complex surrounded by an abundance of amenities. The property is within walking distance of 10 restaurants within the Lakeshore Towers complex, a food hall and Lifetime Fitness. In addition, 18201 Von Karman is close to John Wayne Airport and the San Diego Freeway, State Route 55 and State Route 73, providing access to the entire Southern California region.

Renovated in 2016, 18201 Von Karman offers tenants 21k sf floorplates, a 936-space parking structure and a modern lobby. The property is currently 43% leased to a dynamic mix of high-quality corporate tenants, including Alliance Healthcare, Revance, Center Street Lending and First Integrity.

Michael Leggett, Will Poulsen, John Rankin and Tim Donald with JLL Capital Markets represented the seller in the deal,

“18201 Von Karman generated quite a bit of investor interest, ranging from institutional investors to private buyers along the west coast, who saw the value-add potential of the highly amenitized asset,” said Poulsen. “Ultimately, the buyer was the winning bidder given their quick ability to close and their inherit knowledge of the property, as they are the property manager and owner of the three adjacent properties.”






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