Furniture Designer Buys Three Buildings

SAN JUAN CAPISTRANO, CA-Furniture designer Nouveau Group LLC has acquired three empty office buildings totaling 49,231 sf for $12.6 million and plans to operate them as a multi-tenant office park, according to Voit Commercial Brokerage. Chris Clark of the Irvine office of Voit Commercial, represented Nouveau along with Tim Walker of Voit’s Irvine office, tells GlobeSt.com that Nouveau will occupy an estimated 10% to 15% of the space and will lease out the rest.

The three properties that Nouveau acquired are class A buildings adjoining the new Capistrano Valley School District buildings, freeway visibility in a market with “high demand and limited supply for this type of product,” Clark says. Nouveau has named Clark and Walker as the leasing agents for the new office project, which Clark says will be marketed to tenants of all sizes, ranging from about 2,000 sf on up.