Cushman & Wakefield announced today that it served as the exclusive advisor to WW VKO Owner, LLC, a joint venture between Westbrook Partners, Walton Street Capital and Greenlaw Partners, in the sale of 18301 Von Karman Avenue, a 226,055-square-foot, Class-A office building. The property was sold to CGGL 18301, LLC, a joint venture between Cigna Corporation and Greenlaw Partners.
“The Airport Area market is poised for significant short term rent increases due to recent drops in vacancy and positive absorption. The buyer saw this as a great opportunity to purchase a recently renovated, Class A office building in one of the best locations in the submarket,” said Jeffrey Cole, Executive Director with Cushman & Wakefield.
The seller was represented by Jeffrey Cole and Ed Hernandez from Cushman & Wakefield’s Irvine office.
The 11-story office building is part of Koll Center Irvine and home to anchor tenant Golden State Foods. The building attracts a diverse tenant roster including insurance, banking, real estate, biotechnology, healthcare, information technology, media, energy and others.