Newmark arranged the $24.4-million sale of 1901 Newport Blvd., a 134,387-square-foot, three-story office property located in Costa Mesa. Buyer and seller were not identified.
Vice chairman Paul Jones, executive managing director Ryan Plummer and Senior Managing Director Brandon White, in collaboration with co-head, U.S. Capital Markets Kevin Shannon and vice chairman Ken White, represented the undisclosed seller. The buyer was a private, high-net-worth investor.
“This transaction highlights the enduring appeal of well-located, versatile office properties in prime coastal Orange County submarkets,” said White. “1901 Newport Blvd.’s unique architectural features, strong occupancy and strategic positioning near major amenities and transportation corridors continue to attract quality tenants and investors seeking adaptable, high-visibility assets in one of Southern California’s most dynamic areas.”
Originally developed in 1985 and renovated in 2001, the property features distinctive Mission-style architecture with a three-story atrium, custom marble flooring, open-air courtyards and seven fountains. It’s currently 85% occupied.
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