CBRE Arranges $7.2 Million Sale of Newport Victoria Plaza

CBRE has arranged the $7.2 million sale of Newport Victoria Plaza, a 43,249 sq.-ft.-office property in Costa Mesa, Calif., to a local private investor.

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, vice chairman at CBRE. “Given its strategic location and strong market fundamentals, we expect properties like this one to continue to be highly sought."

The property features attractive unit sizes and is significantly below replacement cost. It is located in Costa Mesa, providing access 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.

Office asset sales in Orange County have shown robust growth, reflecting the county’s resilient market fundamentals. According to CBRE research, Orange County is among the top investment regions in the Americas, with substantial employment and an attractive quality of life.