The sale of 18201 Von Karman, a Class A office building in Irvine totaling 234,400 square feet, was successfully completed by JLL Capital Markets for $37 million. The seller, New York Life Real Estate Investors, was represented by Senior Managing Director Michael Leggett and Senior Director Will Poulsen along with Associates John Rankin and Tim Donald. The buyer was procured by the team as well and is a private local operator.
According to Poulsen: “There was significant interest from investors for 18201 Von Karman due to its highly amenitized features that offer potential for value-add opportunities. This included both institutional investors as well as private buyers from the west coast.” Ultimately, the winning bidder stood out due to their quick closing ability and extensive knowledge of the property – they are currently managing three adjacent properties.
Renovated in 2016 with modern amenities such as an average floorplate size of 21
