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2/12/26
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In a recent office trade out of Orange County, an unnamed, high net-worth investor paid $24.4 mil for a 134.4k sf ($181.50/sf), three-story office property located in the heart of Costa Mesa. Originally developed in 1985 and renovated in 2001, the property is located at 1901 Newport Blvd, on the west side of the 55 Fwy.
The structure features distinctive mission-style architecture with a three-story atrium, custom marble flooring, open-air courtyards and seven fountains. Situated on a four-acre site, the building is currently 85% occupied and offers highly adaptable spaces suitable for a variety of tenants, including medical offices, traditional office users and retail. The property already hosts several established medical practices, including an ambulatory surgery center and pediatric specialists. Its flexible floor plates, abundant surface parking and existing medical infrastructure make it ideally suited for further medical office expansion or conversion.
The asset presents a highly visible and accessible location and is nestled across the street from Triangle Square and the Costa Mesa Courtyards, placing it in the center of Costa Mesa's vibrant commercial and retail environment. The property's generous parking ratio further enhances its medical appeal in light of California's AB 2097, which prohibits local jurisdictions from imposing minimum parking requirements on new developments or significant renovations within one-half mile of major transit stops, effectively reducing conversion costs and barriers for medical tenants who typically require higher patient and staff parking accommodations.
Newmark Vice Chairman Paul Jones, Executive Managing Director Ryan Plummer, Senior Managing Director Brandon White, in collaboration with Co-Head, U.S. Capital Markets Kevin Shannon and Vice Chairman Ken White, represented the undisclosed seller in the transaction.
"This transaction highlights the enduring appeal of well-located, versatile office properties in prime coastal Orange County submarkets," said White. "1901 Newport Boulevard's unique architectural features, strong occupancy and strategic positioning near major amenities and transportation corridors continue to attract quality tenants and investors seeking adaptable, high-visibility assets in one of Southern California's most dynamic areas."
Orange County’s Airport submarket is regarded as the CBD of the region, thanks to its central location and inventory of trophy spaces that make it a top choice for notable tenants, according to Newmark Research. Although vacancy levels remain elevated by historical standards at 17.0%, asking rents are among the highest in the area.
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