Friday, September 6, 2013

HFF closes sale of Newport Plaza in Newport Beach, CA

Newport Plaza, 895 Dove Street, Newport Beach, CA

Ryan Gallagher
IRVINE, CA – HFF announced it has closed the sale of Newport Plaza, a 107,472-square-foot, Class A office building in Newport Beach, California. 

               HFF marketed the property on behalf of Equity Office. A fund managed by Goldman Sachs Asset Management purchased the asset free and clear of existing debt.

Richard Plummer
Newport Plaza is located at 895 Dove Street just south of Orange County’s John Wayne Airport proximate to State Routes 73 and 55 and Interstate 405. 

  Built in 2000, the institutionally maintained building is 98 percent leased and serves as the headquarters for Newmeyer & Dillion, LLP. 

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

Michael E. McCann
 John Weiner, Jeff Morgan and Dean Chandler of CBRE acted as the local market leasing broker on the sale.

Jeffrey Morgan
Equity Office is one of the largest and most well-respected commercial real estate firms in the nation, with a portfolio encompassing 60 million square feet of Class A office space under management in superior locations throughout the country.  For more information, visit

Goldman Sachs Asset Management is the asset management arm of The Goldman Sachs Group, Inc. (NYSE: GS), which manages $849 billion as of June 30, 2013. 

John D. Weiner
Goldman Sachs Asset Management has been providing discretionary investment advisory services since 1988 and has investment professionals in all major financial centers around the world. 

The company offers investment strategies across a broad range of asset classes to institutional and individual clients globally.

Dean Chandler
Founded in 1869, Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. 

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

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