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1/21/26
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LCBC Development has acquired Centerstone Plaza, a 107k sf, suburban office campus in Irvine, for $32 mil ($300/sf). The property covers 6.77 acres at 4000, 4010 and 4040 Barranca Pkwy, at Culver Dr.
The property is walkable to two on-site restaurants and is surrounded by three major retail centers with over 30 restaurants, three grocery stores, three gyms and an abundance of in-line shops. Additionally, Centerstone Plaza is close to the San Diego Freeway and the John Wayne Airport.
Defined as an “elite suburban campus”, Centerstone Plaza is part of a small subset of these elite assets across the West Coast that have performed extremely well over the past decade. The property, which was renovated between 2024-2025, consists of three two-story buildings that are 92% leased to high-quality tenants, including First Team, Keller Williams, MemorialCare and LifeStance Health.
Centerstone Plaza is located on 6.77 acres at 4000, 4010 and 4040 Barranca Pkwy in an infill location in Irvine. The property is walkable to two on-site restaurants and is surrounded by three major retail centers with over 30 restaurants, three grocery stores, three gyms and an abundance of in-line shops. Additionally, Centerstone Plaza is close to the San Diego Freeway and the John Wayne Airport.
Michael Leggett, Will Poulsen and Tim Donald with JLL Capital Markets’ Investment Sales and Advisory team represented the seller, New York Life Real Estate Investors, and procured the buyer.
“High-quality suburban office with access to amenities continues to see strong tenant demand and over all outperformance,” said Poulsen. “Centerstone was strong example of this with 10-year average occupancy of over 90%.”
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