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1/15/25
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In an OC office trade, a SoCal investor paid $42 mil for a 310.9k sf ($135/sf) building in Irvine. The structure sits on 4.6 acres at 2600 Michelson, within the Irvine Business Complex.
The 16-story building includes an adjacent five-level parking structure with 1,013 spaces. Built in 1986, the property has undergone extensive renovations, including a two-story lobby and mezzanine, car charging stations, a conferencing facility, a fitness center and MJ's Café Irvine.
The building offers immediate access to Interstate 405 and State Routes 55 and 73, and offers access to many of the area's amenities. In 2025, the Jamboree-Michelson Pedestrian Bridge will be completed, easily connecting the property with walkable retail, residential and hospitality amenities at Park Place.
CBRE Investment Properties' Anthony DeLorenzo, Todd Tydlaska, Sean Sullivan, Sammy Cemo, Bryan Johnson and Grant Goldman represented the seller, CBRE IM, in the transaction.
According to Tydlaska, 2600 Michelson has historically out-performed the Greater Airport market in terms of occupancy and rate, and the new owner intends to continue that trend.”
“We saw exceptional turnout from the investment community upon marketing the property,” commented DeLorenzo. “The team sourced 14 offers from a diverse buyer pool, including institutions, high-net-worth investors, family offices and 1031 exchange buyers.”
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