Orange County Campus Sells for $50M

The Campus at South County. Image courtesy of Newmark

Newmark has brokered the off-market, $50 million sale of The Campus at South County, an office complex totaling 210,083 square feet in Foothill Ranch, Calif. The previous owner was Menlo Equities, according to CommercialEdge data.

The property last traded in 2015, when MetLife Real Estate Investment sold the complex as part of a two-property portfolio sale for a combined $50 million, public records show. The other section of the portfolio, Foothill Corporate Centre, traded for almost $20 million in 2019.

The two-building office property located on almost 13 acres at 27051 and 27121 Towne Centre Drive underwent extensive renovations in 2015, followed by further upgrades, such as the inclusion of a new tenant lounge and conference center, in 2019.

The 1999-built two-story campus features floorplates between 21,000 and 52,000 square feet. The Campus at South County offers more than 1,000 parking spots. The tenant roster includes Cox Communications along with Ossur, Fujitsu, Associa and First National Capital Corp., CommercialEdge data shows.

The Campus at South County is just off State Route 241 and some 5 miles from Interstate 5. The property is 16 miles east of John Wayne Airport.

Orange County office trends

According to Newmark, Orange County office sales reached $650 million in the third quarter. As of September, the year-to-date volume equaled $1.3 billion, surpassing activity for the whole of 2020. In August, Skyline Group International acquired a mixed-use office building in Irvine, Calif.

The market is also home to two of SoCal’s top five office projects underway: The Press, a creative office redevelopment by Invesco Real Estate and SteelWave, and Edwards Lifesciences’ expansion of its Irvine headquarters.