$72.275 million sale of landmark office building in Newport Beach, California, closed by HFF
IRVINE, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $72.275 million sale of 1301 Dove, a 202,178-square-foot, landmark Class A office asset in Newport Beach, California.
HFF marketed the asset on behalf of the seller, MetLife Real Estate Investors.
The property is located at 1301 Dove Street with easy access to the Corona Del Mar, Newport Beach/Costa Mesa and San Diego Freeways in Newport Beach. This location places the asset within a mile and a half of the John Wayne Airport and close to executive housing in Newport Beach, Newport Coast, Corona Del Mar and Laguna Beach. Originally built in 1980, 1301 Dove was renovated in 2004 and again in 2014. The 10-story property is 86 percent leased to tenants including Alliant Insurance, Birch Street Systems and iMortgage.
The HFF investment sales team representing the seller was led by senior managing director Ryan Gallagher, managing director Mike McCann, associate director Derreck Barker and director Tim Geiman.
About MetLife Real Estate Investors
MetLife Real Estate Investors oversees a well-diversified real estate portfolio of more than $60 billion, which is one of the largest in the U.S. and consists of real estate equities, commercial mortgages and agricultural mortgages. MetLife is a global leader in real estate investment and real estate asset management, with a vast network of regional offices that keep in close contact with major real estate markets. For more information, visit metlife.com/realestate.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, License Number 01385740.