OC flex campus sells for $36.3M
An eight‑acre flex office campus in Orange County traded for $36.3 million, underscoring investor appetite for adaptable, multi‑use commercial sites even if they're not pure industrial. The deal signals continued capital flow into coastal Southern California assets with flexible use profiles. (therealdeal.com)
Stonemill Design Center sits at 2915 Red Hill Avenue in Costa Mesa and is composed of seven flex-office buildings totaling about 127,753 square feet. (nmrk.com) Public records and contemporaneous reporting identify Greenlaw Partners as the purchaser and American National (now under Brookfield) as the seller; Newmark’s capital-markets team led the disposition. (therealdeal.com) (nmrk.com) Newmark’s release states the campus was 94% occupied at closing and has averaged roughly 92% occupancy over the past six years, with a tenant mix that Newmark describes as commercial, industrial and office uses. (nmrk.com) Active marketing and listing pages show multiple available suites and in-place asking office rents in the range of about $27.00 to $31.20 per square foot per year, with individual spaces listed from as small as 198 square feet up to 6,212 square feet and roughly 14,198 square feet shown available on the listing. (loopnet.com) (propertyshark.com) County and listing records list the property under APN/Parcel ID 427-361-01 and place it in the Greater Airport Area submarket, adjacent to SR‑73 and within close driving distance of John Wayne Airport. (loopnet.com) (nmrk.com) Newmark explicitly marketed the asset as a “premier redevelopment opportunity,” citing proximity to major employment centers and noting a 10‑mile catchment that includes roughly 113 million square feet of office inventory and about 452,000 jobs. (nmrk.com)
