NEWPORT BEACH, CA-A fund managed by Goldman Sachs Asset Management has purchased Newport Plaza, a 107,472-square-foot, class-A office building here, for an undisclosed amount from Equity Office. The building was purchased free and clear of existing debt.
Located at 895 Dove St., just south of Orange County's John Wayne Airport, the building serves as the headquarters for Newmeyer & Dillion LLP. Built in 2000, the asset is institutionally maintained and is 98% leased.
HFF marketed the property on behalf of the seller. The investment-sales team at HFF was led by senior managing directors Ryan Gallagher and Richard Plummer, managing director Mike McCann and director Tim Geiman. John Weiner, Jeff Morgan and Dean Chandler of CBRE acted as the local market leasing brokers on the sale.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
