### Repositioned Irvine Office Building Sells for $37.6M
Cushman & Wakefield represented J+R Group in the sale of 2525 Main St., a 143,269-square-foot office property in Irvine. The Orange County Airport Area property was nearly 98% leased to nine tenants at the time of the transaction. It sold for $37.6 million to Pacific Tree Capital, a private family firm based in Orange County.
The property’s sale price of $262 per square foot ranks among the highest post-pandemic prices per square foot for a multi-tenant office building in Orange County, according to Cushman & Wakefield tracking.
The brokerage firm’s Southern California team—consisting of Jeffrey Cole, Nico Napolitano, Kevin Nolen, Jason Kimmel, and Kristen Schottmiller—represented the seller. J+R Group had invested considerable capital into the property, making upgrades to all common areas, tenant spaces, and a six-story parking garage, as well as securing approved residential entitlements for excess land.
“This transaction is proof that a well-thought-out, modern repositioned office asset can attract discerning tenants in a challenging office market,” said Cole.
