AEW Capital Management announced that is had purchased the 13-story office building at 2050 Main Street in Irvine, CA for $108.5 million, or roughly $345 per square foot, according to a CoStar report. AEW bought the property on behalf of one of its institutional clients from a joint venture of Westbrook Partners, Walton Street Capital and Greenlaw Partners. AEW was self-represented in the transaction while the seller was represented by Eastdil Secured.
"We are very pleased with the acquisition of 2050 Main St.," said Daniel Bradley, AEW director, in a statement. "It is considered a high-quality trophy property in a premier location with high tenant demand. In addition, its pending LEED Gold Certification will help solidify the property's top-tier status."
The 315,000 square foot office building was built in 2007 and was reportedly 80% leased at the time of sale. 2050 Main Street is part of the Irvine Concourse Corporate Center, a development comprised of 10 office towers, hotels, a health club and three restaurants, in the Orange County John Wayne Airport submarket.
For more news and information visit Blumberg Capital Partners.
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