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3/25/25
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A private investor paid $7.2 mil for Newport Victoria Plaza, a 43.2k sf ($167/sf) office property in Costa Mesa. The property is located at 2183 Fairview Rd, just off the 55 Fwy at the intersection of Victoria St and Fairview Rd.
The property, which features attractive unit sizes, sold for significantly below replacement cost. Located in Costa Mesa, it is situated near to executive and affordable housing and large labor bases. It is near major highways, including State Route 55 (SR-55), Interstate 405 (I-405), SR-73 and I-5, as well as John Wayne Airport.
CBRE's Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Harry Su represented the private seller in the transaction.
"The opportunity to purchase a low-rise office property in a fundamentally strong market like Costa Mesa is rare," said DeLorenzo. “Given its strategic location and strong market fundamentals, we expect properties like this one to continue to be highly sought."
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