IRVINE, CA—Hines' recently purchased $100M office campus here, Quintana, could potentially be converted to a “special creative office campus” design envisioned by the buyers, Cushman & Wakefield broker Jeffrey Cole tells GlobeSt.com. Cole was part of a team that, along with HFF, represented locally based seller Menlo Properties in the deal. We spoke with Cole exclusively about the deal for the 421,935-square-foot, modern class-A office campus in the Irvine Business District and the seller's motivation for the disposition.

GlobeSt.com: How often does a deal of this size come to Orange County?

Cole: There are usually two or three office deals in the Airport Area of Orange County greater than $100 million each year. However, this year there have already been four, so it will be an unusually strong year for large sales.

GlobeSt.com: What was the seller's motivation for selling Quintana?

Cole: The seller owned the property for more than four years and had originally planned to lease the property and sell. The investment market was strong enough to sell and make a good return without leasing the property.

GlobeSt.com: What types of buyers were interested in the property?

Cole: Many different buyer types including institutional pension funds/advisors, opportunity funds, regional developers and offshore investors.

GlobeSt.com: What else should our readers know about this transaction? 

Cole: There is the potential conversion to a “special creative-office campus” design envisioned by the buyers.