IRVINE, Calif., Jan. 21, 2025 - JLL Capital Markets announced today that it has completed the $37 million sale of 18201 Von Karman, an 11-story, Class A office property totaling 234,400 square feet in Irvine, California.
JLL represented the seller, New York Life Real Estate Investors, and procured the buyer, a private local operator.
18201 Von Karman is positioned in the heart of the Irvine Business Complex surrounded by an abundance of amenities. The property is within walking distance of 10 restaurants within the Lakeshore Towers complex, a food hall and Lifetime Fitness. In addition, 18201 Von Karman is close to John Wayne Airport and the San Diego Freeway, State Route 55 and State Route 73, providing access to the entire Southern California region.
Renovated in 2016, 18201 Von Karman offers tenants 21,000-square-foot average floorplates, a 936-space parking structure and a modern lobby. The property is currently 43% leased to a dynamic mix of high-quality corporate tenants, including Alliance Healthcare, Revance, Center Street Lending and First Integrity.
JLL's Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Director Michael Leggett, Senior Director Will Poulsen and Associates John Rankin and Tim Donald.
"18201 Von Karman generated quite a bit of investor interest, ranging from institutional investors to private buyers along the west coast, who saw the value-add potential of the highly amenitized asset," said Poulsen. "Ultimately, the buyer was the winning bidder given their quick ability to close and their inherit knowledge of the property, as they are the property manager and owner of the three adjacent properties."
JLL's Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's newsroom.
Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
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Jones Lang LaSalle Inc. published this content on January 21, 2025, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on January 21, 2025 at 18:17:25.061.
