Located at 1901 Newport Blvd., the complex consisting of three buildings was originally built as the corporate headquarters for the now defunct Pacific Federal Savings and Loan Association in the early 1980s. The three buildings include a 142,000 sf Class A mission-style office building, a 2,400-sf historic schoolhouse and a 2,400-sf warehouse/multi-purpose facility.

Known for years as a real estate auction house, Kennedy-Wilson is also an international real estate services, investment and fund management firm. As the new owner of the complex, Kennedy-Wilson is cosmetically upgrading the property's interior and exterior. The firm expects first tenant move-ins to begin June 1.

When renovation is complete, the complex's main building will house retail establishments on the ground floor, with traditional office space on the second and third floors. The two smaller buildings will be leased out to single tenant users.