Bixby Closes $56M Sale of Orange County Building
ByBixby Land Co. completed the sale of Habitat, a 262,463-square-foot Class A office building in Irvine, Calif., for $56.3 million. Karma Automotive LLC bought the property it previously leased in August 2016. Gregg Haly and Jeff Carr of CBRE represented Bixby in the transaction, while Kevin Leonard of Healthwest Realty Advisors represented Karma Automotive.
Bixby acquired the asset for $44.3 million from Kawasaki in 2015 with plans to reposition it into a dynamic workplace that would appeal to larger companies. The new owner is planning to redesign its new headquarters to include further employee amenities and a branded experience center for its new Revero luxury sedan. Located at 9950 Jeronimo Road, the two-story 1985 property has easy access to I-405 and I-5 and is close to Irvine Metrolink and Irvine Spectrum Center…