The asset consists of two creative office buildings totaling 39,866 square feet situated within the Irvine Business Complex (IBC). The property was 65% leased and sold to a Private Investor. The seller was KP Airport Professional Center, LLC.
Jeff Cole, Ed Hernandez, Nico Napolitano and Brad Brandenburg with Cushman & Wakefield’s Orange County office represented the institutional seller in the disposition. Joe Winkelmann and Michael Hartel of Colliers International provided local market advisory.
Jeff Cole, Vice Chairman, said, “Airport Professional Center is an institutional-grade creative building that was renovated with state-of-the art modern improvements allowing for minimal near-term capital improvements and offers an attractive low-rise option in the Airport Area.”
Cole added, “Tenants have been drawn to the project for its convenient location and access, architectural design, flexible space configurations, proximity to decision makers, as well as its extremely rare subterranean parking.”
Airport Professional Center comprises two single-story buildings at 17838 to 17880 Fitch that are situated on just over 2 acres. Renovated in 2009 and again in 2017, the campus features subterranean parking, abundant natural light, fully improved suites with turn-key improvements, and outdoor courtyard and patio areas. The property is conveniently located less than a mile of the Interstate 405 and Highway 55 interchange and John Wayne International Airport and is just minutes from Interstate 5.