NEWPORT BEACH, CA—HFF has closed the $72.2 million sale of 1301 Dove, a 202,178-square-foot, landmark class A office asset here.

HFF marketed the asset on behalf of the seller, MetLife Real Estate Investors.

The property is located at 1301 Dove Street with easy access to the Corona Del Mar, Newport Beach/Costa Mesa and San Diego Freeways in Newport Beach. This location places the asset within a mile and a half of the John Wayne Airport and close to executive housing in Newport Beach, and neighboring communities. Built in 1980, 1301 Dove was renovated in 2004 and again in 2014. The 10-story property is 86% leased to tenants including Alliant Insurance, Birch Street Systems and iMortgage.

The HFF investment sales team representing the seller was led by senior managing director Ryan Gallagher, managing director Mike McCann, associate director Derreck Barker and director Tim Geiman.

MetLife Real Estate Investors oversees a well-diversified real estate portfolio of more than $60 billion, which is one of the largest in the US. HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc.

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.

Orange County