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NEWPORT BEACH, CA—Commercial buildings have to meet the functional work needs of companies, but that's a pretty low bar, Bixby Land Co.'s EVP and COO Aaron Hill tells GlobeSt.com, explaining that the company is more focused on developing “inspired projects that spark the imagination.” As we previously reported, the firm recently completed the sale of the former Kawasaki USA headquarters in Irvine, CA, to Karma Automotive LLC for $56.25 million. Karma, an American car company that manufactures luxury hybrid plug-in vehicles, had previously leased the 262,463-square-foot facility in August 2016.
Bixby had initially acquired the project, located at 9950 Jeronimo Rd., with plans for a major repositioning into a dynamic workplace that would appeal to larger companies. Karma is underway with its own designs for the new headquarters location, including a Branded Experience Center for its new Revero luxury sedan and ample employee amenities inspired by Bixby's initial designs, which are in high demand by today's workforce.
We spoke with Hill about how the transaction is representative of amenities and tenant-demand trends in the Orange County office market.
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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.
