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| Quintana Office Campus, Irvine, CA |
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| Ryan Gallagher |
IRVINE, CA, Sept. 8, 2015
- Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the
sale of and arranged financing for Quintana
Office Campus, a four-building, 430,000-square-foot, Class A office complex
in Irvine, California.
HFF’s capital markets team
led marketing of the asset, and was assisted by Cushman & Wakefield, on
behalf of Menlo Equities. Hines
purchased Quintana Office Campus for an undisclosed amount.
Additionally, HFF arranged
acquisition financing for the buyer with a total funding of approximately $100
million from New York Life Real Estate Investors, on behalf of institutional
investors.
Quintana Office Campus
consists of 17875 and 17877 Von Karman Avenue and 17838 and 17872 Gillette
Avenue as well as a one-acre interior park/open space all located on
approximately 15 acres in the Irvine Business District.
The property has immediate
access to the San Diego (I-405) and Newport Beach/Costa Mesa (SR-55) Freeways
and is less than one half of a mile from John Wayne Airport.
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| Michael Leggett |
Built between 1989 and
2004, Quintana Office Campus is currently 13 percent occupied providing
significant value creation potential as well as complete flexibility on a
repositioning strategy.
Hines has planned an
extensive $15 million capital improvement program, which will transform the
asset into the most unique and differentiated campus environment in the Airport
submarket.
The strategic capital
upgrades will focus on improving the expansive open spaces and common areas to
include new conference and fitness center amenities, functional outdoor
workspaces, new lobbies and restrooms, upgraded landscaping and potential
retail offerings.
The HFF investment sales
team representing the seller was led by senior managing directors Ryan Gallagher and Michael Leggett, managing director Mike McCann and associate
director Derreck Barker.
HFF’s debt placement team
was led by senior managing director Kevin
MacKenzie.
The Cushman and Wakefield
team was represented by executive director Jeff
Cole and Ed Hernandez.
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 | www.hfflp.com
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