West Capital Lending Buys Orange County Office Building for New HQ
The property traded at a 30 percent loss since 2016.
West Capital Lending has purchased 17911 Von Karman Ave., a 104,375-square-foot office building in Irvine, Calif. Manulife John Hancock Investments sold the asset for $23.8 million, or $227 per square foot.
Sunwest Bank issued an $18.6 million acquisition loan, according to Yardi Matrix information.
The new owner plans to transform the property into its new headquarters and will occupy half of the building, namely the third, fourth and fifth floors. The other half of the low-rise is leased by Thermador and KTGY.
Newmark worked on behalf of the buyer in the transaction. The company currently ranks first as the largest commercial mortgage brokers in the U.S., in Commercial Property Executive‘s annual ranking, acting primarily as an intermediary.
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The seller had previously purchased the office asset in 2016 from Perform Properties, for $34 million—or $325 per square foot—positioning the current transaction at a 30 percent loss, the same data provider shows.
Completed in 1981, the building underwent renovations in 2012. The LEED Gold-certified low-rise features 21,727 square feet floorplates across five floors, a multi-level parking structure with more than 400 spots, controlled access and two passenger elevators.
Located on Von Karman Avenue, the property is close to the interchange between Interstate 405 and California State Route 55. The office building is less than 1 mile from John Wayne Airport and within 2 miles west of downtown Irvine. Los Angeles is 40 miles away.
The Newmark team representing West Capital Lending included Executive Managing Directors Jay Nugent and Scott Read.
Office sales surge in Orange County
The Orange County office market recorded almost $1.4 billion in investment activity in 2025, according to Yardi Matrix information, with 65 assets trading at an average price of $246 per square foot. Both figures marked a significant increase from the previous year, when the total sales value clocked in at $488 million, with only 24 properties changing hands at an average price of $187 per square foot.
On a national level, Yardi Matrix recorded 121 office sales in January 2026, with assets trading for an average price of $278 per square foot, amounting to a total sales figure of $4.0 billion, according to a recent office report.
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