{"id":1004811875,"date":"2026-09-14T03:44:11","date_gmt":"2026-09-14T11:44:11","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004811875"},"modified":"2026-09-14T03:59:29","modified_gmt":"2026-09-14T11:59:29","slug":"prp-divests-orange-county-campus-for-325m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/prp-divests-orange-county-campus-for-325m\/","title":{"rendered":"PRP Divests Orange County Campus for $325M"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6aa7f4cff06d3&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"480\" data-attachment-id=\"1004811876\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/prp-divests-orange-county-campus-for-325m\/broadcom-hq\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/09\/Broadcom-HQ.jpg\" data-orig-size=\"640,480\" data-comments-opened=\"0\" 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;194&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=\"Broadcom-HQ\" data-image-description=\"&lt;p&gt;Proprietary image obtained from Yardi Matrix&#8217;s database.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Broadcom\u2019s headquarters traded numerous times throughout the past decade. Image courtesy of Yardi Matrix&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/09\/Broadcom-HQ.jpg?w=640\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/09\/Broadcom-HQ.jpg\" alt=\"Exterior shot featuring one of the two buildings that make up Broadcom's headquarters in Orange County.\" class=\"wp-image-1004811876\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/09\/Broadcom-HQ.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/09\/Broadcom-HQ.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Broadcom\u2019s headquarters changed hands numerous times throughout the past decade. <em>Image courtesy of Yardi Matrix<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>PRP Real Assets has sold the 660,893-square-foot, two-building Broadcom Corporate Campus in Irvine, Calif., for $325 million. The tenant, whose name the property carries, acquired the asset.<\/p>\n\n\n\n<p>Through this deal, the semiconductor company repurchased its headquarters, despite having 11 years remaining on its lease at closing.<\/p>\n\n\n\n<p>This transaction represents the priciest Orange County office acquisition since 2020, when the same asset commanded $355 million, marking a $30 million premium compared to the 2026 sale, according to Yardi Matrix. <\/p>\n\n\n\n<p>The Five Point Holdings-led venture had acquired the larger, 73-acre campus from Broadcom for $443 million in 2017, the same year Five Point completed the headquarters. The roughly 1 million-square-foot property also included additional R&amp;D space.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/top-commercial-real-estate-owners\/\" data-type=\"link\" data-id=\"https:\/\/www.commercialsearch.com\/news\/top-commercial-real-estate-owners\/\">Largest Commercial Real Estate Owners<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Dubbed Five Point Gateway, the broader office property includes tenants such as City of Hope, which operates Orange County\u2019s most advanced cancer care facility. Other tenants include Lennar and Five Point.<\/p>\n\n\n\n<p>Broadcom\u2019s pair of five-story buildings consists of 25 percent lab and 75 percent office space. The semiconductor company utilizes the property for chip design, firmware and product engineering, among other R&amp;D applications.<\/p>\n\n\n\n<p>Located at 15101 &amp;15191 Alton Parkway, the property is part of Great Park Neighborhoods, a 2,100-acre mixed-use planned community that rises atop the former site of the U.S. Marine Corps&#8217; El Toro Air Base. The development may hold up to 11,800 homesites, 4.1 million square feet of commercial space, 61 acres of parks and 138 acres of trails and open space.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-orange-county-availability-reaches-lowest-point-in-six-years\">Orange County availability reaches lowest point in six years<\/h2>\n\n\n\n<p>Broadcom\u2019s commitment to its headquarters reflects the ongoing tenant demand stabilization across Orange County. Office availability dropped to its lowest point since 2020, at 18.6 percent in June, marking a 280-basis-point annual decline, according to a <a href=\"https:\/\/www.savills.gg\/research_articles\/262592\/392405-0\" data-type=\"link\" data-id=\"https:\/\/www.savills.gg\/research_articles\/262592\/392405-0\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Savills report<\/a>.<\/p>\n\n\n\n<p>The Broadcom deal follows another significant owner-user acquisition in the market. In June, Hoag Memorial Hospital Presbyterian acquired the Ziggurat Federal Building, a 1 million-square-foot asset, from the U.S. General Services Administration for $207.9 million, Yardi Matrix shows.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The tenant repurchased its headquarters despite having more than 10 years remaining on its lease.<\/p>\n","protected":false},"author":3471,"featured_media":1004811876,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21747,34267,15],"tags":[52987,34107],"class_list":["post-1004811875","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-office","category-orange-county","category-west","tag-prp-real-assets","tag-savills"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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