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December 3, 2023
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Hanyon Holding Spends $14.7 Mil on OC Office Asset


Hanyon Holdings paid $14.7 mil for MacArthur Corporate Center, a 62.9k sf ($234/sf) office building in Irvine. MacArthur Corporate Center is located at 17661-17671 Cowan in the heart of Orange County’s Airport office submarket with excellent access to the 55 and 405 freeways and John Wayne Airport.

The property is a two-story, L-shaped, concrete tilt-up, multi-tenant office building. 17671 Cowan on the North and 17661 Cowan on the East are joined by a two-story corridor. The building is situated on approximately 3.09 acres of land and is parked 4 per 1,000 rentable square feet.

The building, which was approximately 87% leased at the close of escrow, features a highly improved suite with newly renovated restrooms, and double-pane windows for sound reduction. The new owner intends to lease up the last vacancy and hold the asset as a long-term investment.

John Manion, Brian Childs and Jeanene Stolrow with NAI Capital Commercial’s Investment Services Group represented the buyer in the deal. The seller, Granite Trust, IRV, LLC, was represented by Lee & Associates.

“With the square footage per employee increasing as employees demand more separation and distancing from others in a post COVID-19 office setting, the new owner should be able lease up the remaining, recently renovated, suite quickly,” Manion commented.

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