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WRE sets record comp for luxury Newport Beach office

WRE represents Family Office in the highest price per square foot sales comp in Bay Corporate Plaza at $12.3 Million or $464 per square foot. 

A local private investor bought the 26,561 square foot property at 2260 University Drive from True Family Investments. The buyer is expected to occupy the building for its work, as did True.

The 37-year-old, two-story building had $6.5 Million in renovations in 2015 and is fully furnished with top-of-the-line audio, video and security systems in place.

WRE brokerage services supported both the buyer and seller in the last few years, developing trusted relationships. The sellers had initially reached out to WRE two and a half years ago with a price in mind for the building. The buyers had initially secured a two year lease nearby, through WRE.

Using WRE marketing strategies, the WRE team created competition for the luxury office building from users who benefited from the high-end improvements and turn key buildout. Under WRE advice, the sellers remained patient, knowing the price they wanted for the property and were able to secure a record breaking sale.

With buildings selling at all-time highs, is now the time for you to sell?

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