Unique Waterfront Office Property Up for Sale

CORONA DEL MAR, CA—An unnamed seller is offering a 35,384-square-foot, two-building waterfront office complex here for sale. Bayside Square at 1101 and 1111 Bayside Dr. is currently 80% occupied and is a unique bayfront property with views of Newport Bay. GlobeSt.com was unable to reach the parties involved prior to deadline to learn more about the seller, but public records indicate that the owner is a Nevada-based entity known as EMC Bayside LLC, which purchased the property in mid-2011 at about 50% occupied.

Stream Realty Partners, in conjunction with Ron M. Pelleg, is marketing the property on behalf of the owner. Stream tells GlobeSt.com it considers the property unique in that it sits right on the water, so most of the office spaces in the buildings have ocean or bay views. Adjacent to the Newport Beach Yacht Club and nearby abundant executive housing, Bayside Square is expected to fetch between $28 million and $30 million.