{"id":1004358677,"date":"2019-10-09T06:07:38","date_gmt":"2019-10-09T14:07:38","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004358677"},"modified":"2019-10-09T06:07:38","modified_gmt":"2019-10-09T14:07:38","slug":"orange-county-office-building-sells-for-17m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/orange-county-office-building-sells-for-17m\/","title":{"rendered":"Orange County Office Building Sells for $17M"},"content":{"rendered":"
\"\"<\/a>

2642 Michelle Drive. Image courtesy of Newmark Knight Frank<\/em><\/p><\/div>\n

Excelsior Partners has purchased a 50,832-square-foot creative office building in Tustin, Calif., for $16.8 million. Newmark Knight Frank arranged the deal on behalf of the seller, a joint venture between Harbor Associates and Stockbridge. The buyer was self-represented.<\/p>\n

Constructed in 1980 and renovated in 2017, the two-story office building sits on 2.8 acres and features approximately 25,700-square-foot rectangular floor plates. Other features include controlled access and more than 200 parking spaces. The asset is fully occupied by three tenants, Avid Bioservices (formerly Peregrine Pharmaceuticals), Advantage Sales & Marketing and GPA Consultants.<\/p>\n

Situated at 2642 Michelle Drive, the creative office building is in the Irvine Business Complex, just off the intersection of Freeway 261 and Interstate 5, roughly 4 miles from downtown Irvine and within 10 miles of the John Wayne Airport. Additionally, the building is close to the Tustin\/Irvine Marketplace and The District at Tustin Legacy, which provides access to more than 225 stores and restaurants.<\/p>\n

In September, Newmark Knight Frank also represented the seller in the disposition of the iconic Watergate Office Building<\/a> in Washington, D.C.<\/p>\n","protected":false},"excerpt":{"rendered":"

A joint venture of Harbor Associates and Stockbridge traded the 50,832-square-foot asset located in Tustin, Calif. <\/p>\n","protected":false},"author":871,"featured_media":1004358680,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,21747,34267,15],"tags":[47342,36306,36007,44465],"class_list":["post-1004358677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-office","category-orange-county","category-west","tag-excelsior-partners","tag-harbor-associates","tag-newmark-knight-frank","tag-stockbridge"],"acf":[],"yoast_head":"\nOrange County Office Building Sells for $17M - 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\/orange-county-office-building-sells-for-17m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Orange County Office Building Sells for $17M\" \/>\n<meta property=\"og:description\" content=\"A joint venture of Harbor Associates and Stockbridge traded the 50,832-square-foot asset located in Tustin, Calif.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/orange-county-office-building-sells-for-17m\/\" \/>\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=\"2019-10-09T14:07:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/Create-Tustin.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Evelyn Jozsa\" \/>\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\/orange-county-office-building-sells-for-17m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/orange-county-office-building-sells-for-17m\/\",\"name\":\"Orange County Office Building Sells for $17M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/orange-county-office-building-sells-for-17m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/orange-county-office-building-sells-for-17m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/Create-Tustin.jpg\",\"datePublished\":\"2019-10-09T14:07:38+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7a1fad8f1e02fa4d8f81f7e9ad21736a\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/orange-county-office-building-sells-for-17m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/orange-county-office-building-sells-for-17m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/orange-county-office-building-sells-for-17m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/Create-Tustin.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/Create-Tustin.jpg\",\"width\":800,\"height\":620,\"caption\":\"2642 Michelle Drive. 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