NEWPORT BEACH, CA—In the second half of 2016, new buyers—both foreign and domestic—and private buyers are driving office-sales transactions up and down the West Coast, including the Greater Airport area, Paul Jones, senior managing direct of NGKF Capital Markets' Newport Beach office, tells GlobeSt.com. Jones, along with his team's Kevin Shannon, Blake Bokosky and Robert Griffith, recently represented an institutional seller and buyers Newport Beach-based Cress Capital and New York-based C-III in the sale of Newport Irvine Center, a three-story, class-A, 76,837-square-foot office property at 3300 Irvine Ave. here; the property was 87 percent occupied at the close of escrow.
After examining the firm's Q3 office report for Orange County, we noticed some interesting trends in the airport submarket, so we sat down with Jones for an exclusive interview on the subject.
GlobeSt.com: What are the most interesting trends you're noticing in the Airport submarket?
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
