CBRE Brokers 310,925-Square-Foot-Office Building in Irvine

CBRE negotiated the $42 million sale of 2600 Michelson Drive, a 16-story office building in Irvine, Calif., to a Southern California-based private investor. CBRE Investment Properties' Anthony DeLorenzo, Todd Tydlaska,  Sean Sullivan, Sammy Cemo, Bryan Johnson, and Grant Goldman represented CBRE IM in the transaction.

"We were privileged to handle this lender-facilitated sale and pleased that we could identify a buyer that appreciates the location, quality and basis," said Tydlaska, executive vice president at CBRE. "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.”

Located on 4.6 acres in the Greater Airport submarket of Orange County, the 310,925 sq.-ft.-office 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.

“We saw exceptional turnout from the investment community upon marketing the property,” added DeLorenzo, vice chairman at CBRE. “The team sourced 14 offers from a diverse buyer pool, including institutions, high-net-worth investors, family offices and 1031 exchange buyers.”

The building offers immediate access to Interstate 405 and State Routes 55 and 73. Its location in the Irvine Business Complex provides 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.