{"id":1004385485,"date":"2020-01-27T08:09:23","date_gmt":"2020-01-27T16:09:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004385485"},"modified":"2021-05-15T06:14:59","modified_gmt":"2021-05-15T14:14:59","slug":"kbs-sells-orange-county-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/kbs-sells-orange-county-office-asset\/","title":{"rendered":"KBS Sells Orange County Office Asset"},"content":{"rendered":"
\"Von<\/a>

Von Karman Tech Center. Image courtesy of KBS<\/em><\/p><\/div>\n

KBS has sold Von Karman Tech Center, a 101,161-square-foot office building in Irvine, Calif. Dayani Partners LLC, a private investor, acquired the Class B asset for $25.4 million in an off-market transaction. The property last traded in 2015, when KBS purchased it for $21.5 million from HighBrook. CBRE brokered the deal on behalf of the seller, while the buyer was self-represented. Greenberg Traurig served as legal counsel for KBS.<\/p>\n

Located at 16842 Von Karman Ave. in Orange County within the Irvine Business Complex, the two-story building was developed in 1980 and fully renovated in 2014. The office asset features 50,231-square-foot floor plates and has a parking ratio of 4 spaces per 1,000 square feet. KBS invested $2 million in renovations at the property, which was nearly 90 percent occupied at the time of sale. Most of the space is leased through 2023 and beyond.<\/p>\n

Von Karman Tech Center is less than 1 mile from The District at Tustin Legacy, the 1 million-square-foot shopping center and entertainment hub offering numerous shopping and dining options. The 4.6-acre property, located some 1.5 miles northwest of the city center, is roughly 2.5 miles from Interstate 405 and Costa Mesa Freeway. The asset is also less than 2 miles from another office property that traded for $116 million<\/a> in October.<\/p>\n

CBRE\u2019s Anthony DeLorenzo and Gary Stache represented KBS in the sale, while Greenberg Traurig\u2019s Bruce Fischer, Christine Fan and Amanda Kennedy acted as legal counsel on behalf of the seller.<\/p>\n","protected":false},"excerpt":{"rendered":"

A private investor paid $25.4 million for the Class B asset\u2014nearly $4 million above the property\u2019s last sale price in 2015.<\/p>\n","protected":false},"author":870,"featured_media":1004385497,"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":[32789,36482,37836,35334],"class_list":["post-1004385485","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-cbre","tag-gary-stache","tag-greenberg-traurig","tag-kbs-realty-advisors"],"acf":[],"yoast_head":"\nKBS Sells Orange County Office Asset - 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\/kbs-sells-orange-county-office-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KBS Sells Orange County Office Asset\" \/>\n<meta property=\"og:description\" content=\"A private investor paid $25.4 million for the Class B asset\u2014nearly $4 million above the property\u2019s last sale price in 2015.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/kbs-sells-orange-county-office-asset\/\" \/>\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=\"2020-01-27T16:09:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T14:14:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Von-Karman-Tech-Center-e1580135697543.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1068\" \/>\n\t<meta property=\"og:image:height\" content=\"801\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Marinescu\" \/>\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\/kbs-sells-orange-county-office-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/kbs-sells-orange-county-office-asset\/\",\"name\":\"KBS Sells Orange County Office Asset - 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