Saturday, June 4, 2016

HFF closes $44.8 million sale of Main & Redhill Business Center in Orange County, CA

Main & Redhill Business Center, Irvine, CA

Ryan Gallagher
NEWPORT BEACH, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $44.8 million sale of Main & Redhill Business Center, a 15-building, low-rise office campus totaling 203,946 square feet in the Orange County city of Irvine, California.

HFF marketed the property on behalf of the seller, a global real estate investment management firm, and procured the buyer, Olen Properties Corporation. 

Main & Redhill Business Center is situated on 17 acres adjacent to the Interstate 405/State Route 55 Freeway interchange in Orange County’s airport area submarket. 

This location provides high visibility from the freeways; access to more than 5.5 million square feet of retail amenities in the surrounding area; close proximity to executive housing in the residential communities of Newport Beach, Newport Coast, Del Mar, Irvine and Laguna Beach; as well as easy access to John Wayne International Airport, one-half mile from the property. 

The 97-percent-leased business park has stable-in place cash flow supported by strong historical tenancy.

HFF’s investment sales team representing the seller was led by senior managing director Ryan Gallagher, managing director Mike McCann, director Tim Geiman and associate director Derreck Barker.

“The Main & Redhill offering presented an excellent opportunity to purchase a critical mass of land in Orange County’s premier Irvine Business Complex that has tremendous upside through lease renewals and tenant rollover,” said Gallagher.  “The property’s design and layout is easily modifiable to reposition the space to a unique and progressive creative office campus environment.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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