{"id":1004114033,"date":"2015-02-23T08:57:14","date_gmt":"2015-02-23T16:57:14","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=327532"},"modified":"2022-12-08T13:58:39","modified_gmt":"2022-12-08T21:58:39","slug":"4000-macarthur-office-project-in-newport-beach-trades-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/4000-macarthur-office-project-in-newport-beach-trades-hands\/","title":{"rendered":"4000 MacArthur Office Project in Newport Beach Trades Hands"},"content":{"rendered":"<p><em>By Alex Girda, Associate Editor<\/em><\/p>\n<p>A large office asset in Newport Beach was recently acquired by Hines for an undisclosed amount. The buyer worked with a subsidiary of a fund managed by Oaktree Capital Management L.P. in the acquisition of 4000 MacArthur, a large office asset located in the Airport Area submarket. As a result of the transaction, Hines will take over management duties on behalf of the joint venture.<\/p>\n<p>4000 MacArthur is located a<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/4000-MacArthur.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-327613\" title=\"4000 MacArthur\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/4000-MacArthur.jpg\" alt=\"\" width=\"300\" height=\"134\" \/><\/a>t the intersection of MacArthur Boulevard and Jamboree Road within Koll Center Newport, and it comprises two office buildings, each standing ten stories tall. The Class A office project totals 375,000 square feet in a location that provides easy access to nearby John Wayne Airport, as well as the SR-73 and I-405 Freeway. The property recently received a set of new improvements such as: a new curtainwall fa\u00e7ade, two fully renovated main lobbies, new restrooms, new corridors, new individual elevator lobbies, new parking and landscaping and new multiple outdoor seating areas, as well as a new on-site caf\u00e9.<\/p>\n<p>The asset\u2019s current tenant roster occupies roughly 91 percent of the available office space. Twelve tenants are under contract at 4000 MacArthur with names such as Hyundai Capital America, M\/A-COM Technology Solutions Holdings, Lifescript, and Premium Office Centers. According to Hines Managing Director Ray Lawler, the property\u2019s position and current shape should be a major draw with premier tenants. This acquisition is the Hines Orange County team\u2019s eleventh project, bringing the company portfolio in the area to around 2.8 million square feet of space. These projects have been vastly improved in terms of occupancy after becoming part of the Hines-Oaktree joint venture.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A large office asset in Newport Beach was recently acquired by Hines for an undisclosed amount. The buyer worked along with a subsidiary of a fund managed by Oaktree Capital Management L.P. in the acquisition of 4000 MacArthur, a large office asset located in the Airport Area submarket. As a result of the transaction, Hines will take over management duties on behalf of the joint venture.<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1594,21742],"tags":[],"class_list":["post-1004114033","post","type-post","status-publish","format-standard","hentry","category-los-angeles","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>4000 MacArthur Office Project in Newport Beach Trades Hands - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/4000-macarthur-office-project-in-newport-beach-trades-hands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"4000 MacArthur Office Project in Newport Beach Trades Hands\" \/>\n<meta property=\"og:description\" content=\"A large office asset in Newport Beach was recently acquired by Hines for an undisclosed amount. The buyer worked along with a subsidiary of a fund managed by Oaktree Capital Management L.P. in the acquisition of 4000 MacArthur, a large office asset located in the Airport Area submarket. As a result of the transaction, Hines will take over management duties on behalf of the joint venture.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/4000-macarthur-office-project-in-newport-beach-trades-hands\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-02-23T16:57:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T21:58:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/4000-MacArthur.jpg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/4000-macarthur-office-project-in-newport-beach-trades-hands\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/4000-macarthur-office-project-in-newport-beach-trades-hands\/\",\"name\":\"4000 MacArthur Office Project in Newport Beach Trades Hands - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/4000-macarthur-office-project-in-newport-beach-trades-hands\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/4000-macarthur-office-project-in-newport-beach-trades-hands\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/4000-MacArthur.jpg\",\"datePublished\":\"2015-02-23T16:57:14+00:00\",\"dateModified\":\"2022-12-08T21:58:39+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/4000-macarthur-office-project-in-newport-beach-trades-hands\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/4000-macarthur-office-project-in-newport-beach-trades-hands\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/4000-macarthur-office-project-in-newport-beach-trades-hands\/#primaryimage\",\"url\":\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/4000-MacArthur.jpg\",\"contentUrl\":\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/4000-MacArthur.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/4000-macarthur-office-project-in-newport-beach-trades-hands\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"4000 MacArthur Office Project in Newport Beach Trades Hands\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\",\"name\":\"Anca Gagiuc\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"caption\":\"Anca Gagiuc\"},\"description\":\"Anca Gagiuc brings more than a decade of experience within the real estate industry. 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