Property Types Office
Orange County Office Complex Commands $80M
July 1, 2008
By: Barbra Murray, Contributing Editor

Dupont Centre, an approximately 250,900-square-foot two-building office property in Irvine, Calif., has just come under new ownership now that KBS Realty Advisors has snapped up the Class A complex for $80.1 million.

Located in the John Wayne Orange County Airport submarket just blocks from the runway, Dupont Centre encompasses an eight-story structure at 2201 Dupont Dr. consisting of approximately 152,700 square feet and, and a five-story building at 2301 Dupont Dr. featuring 98,200 square feet. The 22-year-old complex is presently 89 percent leased by a roster of tenants that includes EMC Corp., CBIZ Accounting & Tax and Parsons Transportation.

KBS relied on internal representation in the transaction, while the buyer turned to Eastdil Secured Capital.

Headquartered in Newport Beach, Calif., KBS Realty Advisors is a 16-year-old private equity real estate company. The firm and its affiliate KBS Capital Advisors, invest in, manage and sell premier U.S. commercial real estate properties on behalf of institutional, corporate and private investors. KBS has closed a total of $14.5 billion in transactions through 27 accounts, commingled funds and private equity REITs.

 
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Mack-Cali Taps CBRE as Leasing Agent for Manhattan’s 125 Broad St.
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CB Richard Ellis has been selected by Mack-Cali Realty Corp. as the exclusive agent to lease a portion of its office holdings at 125 Broad St. in New York City.
Cushman Report: Even Manhattan Humbled in 2008 
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The News: Deliveries, Shrinking Labor Market Will Swell Vacancy
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Markets Start 2009 With Upward Bump
Jan. 05, 2009
Instead of a lackluster lull after the New Year's holiday, investors decided to buy equities on Friday, driving the Dow Jones index up 258 points, or nearly 3 percent. The S&P 500 and Nasdaq were up even more, in terms of percentage: 3.16 percent and 3.5 percent respectively. GM, which recently won a short financial reprieve, led the way by gaining more than 14 percent, though that represented only 45 cents a share.
Atlanta Office Market Survives 2008 with Positive Absorption
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Despite the poor fourth quarter results and bleak economic news, Atlanta’s office market ended 2008 with positive absorption of 391,300 square feet--but that's down more than 2.4 million square feet from the 2.9 million absorbed in 2007, according to figures from Atlanta-based Richard Bowers & Co.
 
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