Oct
21
Creative Space is All About Pushing Rents
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Jones: “There’s a whole progressive theme in this part of Costa Mesa.”IRVINE, CA—Repositioning even well-kept assets for the next generation of office tenant has the end goal of raising rental rates in mind, CBRE’s first VP Paul Jones tells GlobeSt.com. As we recently reported, CBRE has completed the sale of a 180,000-square-foot office campus at 3333 S. Susan St. in Costa Mesa, CA, to Steelwaveand Goldman Sachs for $48 million. Building C, the largest building in the three-building, class-A, two-story office campus, will continue to be occupied by seller Emulex Corp. The remaining two vacant buildings total approximately 84,000 square feet and will be repositioned, along with the remainder of the campus, to be one of the premier progressive-office campuses in the Greater Airport Area. We spoke exclusively with Jones, one of the team who represented the seller in the transaction, about what makes a property a good candidate for creative redevelopment…
