{"id":1004157137,"date":"2016-10-27T08:14:55","date_gmt":"2016-10-27T16:14:55","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004157137"},"modified":"2022-03-03T13:48:08","modified_gmt":"2022-03-03T21:48:08","slug":"newport-beach-office-sale-arranged-by-ngkf-team","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/newport-beach-office-sale-arranged-by-ngkf-team\/","title":{"rendered":"Newport Beach Office Sale Arranged by NGKF Team"},"content":{"rendered":"<p>By Alex Girda<\/p>\n<p><strong>Newport Beach, Calif.<\/strong>\u2014The Newport Irvine Center is the latest property to change hands with the help of <a href=\"https:\/\/www.ngkf.com\/\" target=\"_blank\" rel=\"nofollow noopener\">NGKF Capital Markets<\/a> in Orange County. The buyer, a joint venture of <a href=\"https:\/\/www.cresscapital.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Cress Capital<\/a> and <a href=\"https:\/\/www.c3cp.com\/\" target=\"_blank\" rel=\"nofollow noopener\">C-III<\/a> was represented by an NGKF team that included Paul Jones, Kevin Shannon, Blake Bokosky and Robert Griffith, who also worked on behalf of the seller.<\/p>\n<div id=\"attachment_1004157140\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/3300-Irvine-Ave.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004157140\" data-attachment-id=\"1004157140\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/newport-beach-office-sale-arranged-by-ngkf-team\/3300-irvine-ave\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/3300-Irvine-Ave.jpg\" data-orig-size=\"1440,695\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"3300 Irvine Ave.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;View of Newport Irvine Center from Orchard Drive&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/3300-Irvine-Ave.jpg?w=1024\" class=\"wp-image-1004157140 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/3300-Irvine-Ave.jpg\" alt=\"3300 Irvine Ave.\" width=\"300\" height=\"145\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/3300-Irvine-Ave.jpg 1440w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/3300-Irvine-Ave.jpg?resize=300,145 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/3300-Irvine-Ave.jpg?resize=768,371 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/3300-Irvine-Ave.jpg?resize=1024,494 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004157140\" class=\"wp-caption-text\">View of Newport Irvine Center from Orchard Drive<\/p><\/div>\n<p>Newport Irvine Center is a three-story Class A <a href=\"https:\/\/www.commercialsearch.com\/news\/office\/\" target=\"_blank\" rel=\"noopener\">office asset<\/a> that offers a total of 76,837 square feet of space. The office building occupies a 3.2-acre plot of land at 3300 Irvine Ave. Originally built in 1980, the property was recently renovated to feature more updated interior finishes, abundant landscaping, outdoor seating areas, ample surface and covered parking. Its tenant roster includes names such as InstaMed Communications, Newport Back &amp; Sport Institute, Klarin &amp; Associates, CPA and Cambridge Financial Partners. At the time of the transaction, the property was operating at 87 percent occupancy.<\/p>\n<p>\u201cNewport Irvine Center offered an <a href=\"https:\/\/www.commercialsearch.com\/news\/investment\/\" target=\"_blank\" rel=\"noopener\">investor<\/a> a very rare Newport Beach ownership opportunity. This asset has historically attracted smaller tenants that want a high quality office environment with a convenient commute, while being immediately adjacent to the John Wayne Airport,\u201d NGKF Senior Managing Director Paul Jones said in prepared remarks.<\/p>\n<p><em>Image courtesy of Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The recently renovated property is home to a number of smaller tenants. <\/p>\n","protected":false},"author":41,"featured_media":1004157140,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,1594,21747,15],"tags":[],"class_list":["post-1004157137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-los-angeles","category-office","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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