The Press The Press sold for $65 million to a joint venture that includes SteelWave LLC.

COSTA MESA, CA—A joint venture that includes SteelWave LLC has purchased the former L.A. Times building known as the Press here for $65 million from Tribune Real Estate Holdings, a subsidiary of Tribune Media Co., and Kearny Real Estate. Kearny has worked with the City of Costa Mesa for the past two years to re-entitle and redevelop the 24-acre site, which, when built out, could be the largest creative-office campus in Orange County, partner Hoonie Kang tells GlobeSt.com.

“We successfully re-entitled the site to mixed-use commercial from industrial and more than doubled the FAR to allow more than 655,000 square feet of creative-office space,” says Kang. “While paying tribute to the storied past of the existing Times building, the open design and collaborative layout of the interior space in connection with the outdoor work and recreational spaces would create a one-of-a-kind office environment in the area.”

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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.

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