West Capital Lending has acquired a Class A office building in Irvine’s Irvine Concourse submarket for use as a new corporate headquarters. Newmark represented the buyer in the $23.75 million purchase of 17911 Von Karman Ave., a five-story property totaling 104,375 square feet. Executive managing directors Jay Nugent and Scott Read led the Newmark team advising West Capital Lending.
The seller, John Hancock Life Insurance, had held the asset since 2016 before completing the disposition to the mortgage company. The transaction converts the building to an owner-user structure, with West Capital Lending expanding its physical footprint while maintaining existing tenancy in part of the property.
West Capital Lending is a mortgage brokerage and direct lending platform focused on residential mortgage loans. As part of the acquisition strategy, the firm plans to occupy roughly half of the building to establish what it describes as a significant headquarters presence in the Irvine Concourse area. The balance of the space remains leased to two other tenants, which continue to occupy the first and second floors.
Company leadership characterized the property as an opportunity to secure a high-quality office asset in the core of the Orange County Airport business environment. They noted that the building and its surrounding amenity base are intended to support continued growth and provide a modern work setting for employees.
The deal underscores ongoing buyer interest in well-located, Class A office product suitable for long-term headquarters use, even as broader office fundamentals remain in flux. By purchasing rather than leasing, West Capital Lending locks in control of a large block of space in a competitive submarket while preserving in-place income from the existing tenants.
With this acquisition, the building transitions from institutional ownership to an owner-occupier seeking to consolidate and grow its operations. Newmark’s role in advising the buyer highlights continued brokerage activity around office assets that can serve dual purposes as corporate hubs and income-producing investments.
