June 2, 2016
Holliday Fenoglio Fowler, L.P. (HFF) closed a $44.8 million sale of Main & Redhill Business Center, a 15-building, low-rise office campus totaling 203,946 square feet in Irvine, CA. HFF marketed the property on behalf of the seller, a global real estate investment management firm, and procured the buyer, Orange County-based Olen Properties Corporation.
Main & Redhill Business Center is situated on 17 acres adjacent to the 405 and 55 freeway interchange in Orange County’s Irvine Business Complex. The 97-percent-leased business park offers potential upside through lease renewals and tenant rollover.
HFF’s Ryan Gallagher, Mike McCann, Tim Geiman and Derreck Barker represented the seller. Gallagher says the asset is “easily modifiable to reposition the space to a unique and progressive creative office campus environment.”