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3/15/18
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Platinum Storage Group paid $3.325 mil for an 8k sf ($413/sf) office building in Newport Beach. The building, located at 4920 Campus Dr, just east of Von Karman Ave, was sold by a private investor.
The single-story property is situated in the heart of the Airport Office submarket, a couple blocks from John Wayne Airport. Built in 1979, the freestanding single tenant building sits on a 13.9ksf lot, within the prestigious Newport Corporate Plaza. It has ample parking in the front, great street visibility and excellent transportation access minutes from MacArthur Blvd and the 405 Fwy.
The property was 100% vacant at the time of the sale. The new owner plans to occupy the entire building and use it as their primary office.
Bob Davis with NAI Capital’s Irvine office represented the seller in the transaction.
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