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2/25/25
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Pacific Tree Capital, an OC-based private investment entity, paid $37.6 mil for 2525 Main Street, a 143.3k sf office property on 3.73 acres in Irvine. The Orange County Airport Area property was nearly 98% leased to nine tenants upon buyer selection.
The property’s sales price of $262 per square foot places it among the highest price/sf achieved for a multi-tenant office building of over $20 mil countywide post-pandemic, according to Cushman & Wakefield tracking.
The property was sold by J+R Group. Prior to the sale, J+R Group had invested significant capital into all aspects of the project, including all common areas, tenant spaces, a brand new six-story parking garage, and approved residential entitlements on excess land.
2525 Main St is strategically and conveniently located in the heart of the Irvine Airport Area, the main corridor adjacent to the 405 Fwy and John Wayne Airport, offering quick access and an abundance of amenities for employees and residents, alike.
Cushman & Wakefield’s Jeffrey Cole, Nico Napolitano, Kevin Nolen, Jason Kimmel, and Kristen Schottmiller with the firm’s Southern California offices represented the seller in the transaction. According to Napolitano, high buyer demand, primarily from the foreign and private high-net-worth buyer type, led to a competitive sale process.
“This transaction is proof that a well thought out modern repositioned office asset can attract discerning tenants in a challenging office market. The exceptional common areas focused on tenant amenities along with the future use optionality on the flex portion of the site make for a rare and very attractive investment opportunity in the premier submarket of Orange County,” noted Cole.
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