The building stands at 20151 S.W. Birch St. It is located near the Corona del Mar Freeway and John Wayne Airport overlooking Newport Beach's Back Bay. Encompassing 23,000 sf, the project is currently 100% occupied. Developed by Newport Beach-based CT Realty Corp. in 1999, it will continue to serve as the company's headquarters.
The wood and stucco building was constructed with a steel frame and pyramid-shaped dome roof. It features on-site amenities including a conference room, showers and lockers.
CT Realty was the seller, with financing provided by Credit Suisse First Boston, according to Avalon principal Jeffrey Randolph.
Avalon provides financial advisory services for commercial real estate owners and investors. Since its establishment in 1993, the firm has been engaged in more than $700 million of commercial real estate financing transactions.
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