April 21, 2016
A joint-venture between Long Beach, CA-based Harbor Associates, LLC and Irvine, CA-based The Bascom Group acquired 3 Burroughs, a 37,000-square-foot former flex office building in Irvine. The asset will be transformed into a Class A creative office campus, and rebranded as ‘Bespoke Irvine.’
Built in 1982, Bespoke Irvine’s unique architectural features make the project well-suited for a creative office conversion, including wood beam ceilings at above 14-foot standard heights, two courtyards, and a 4.1 per 1,000 parking ratio. Exterior improvements include drought-tolerant landscaping, and the addition of two new tenant entries, a roll-up glass garage door, and outdoor work and lounge areas.
Lee & Associates’ John Collins, Matt McKinlay and Dave Smith represented the buyer and seller. HFF’s John Chun, Greg Brown and Jamie Kline arranged the financing.