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NEWPORT BEACH, CA-AEW Capital Management has acquired the 100 Bayview office project from a partnership of the Laguna Hills-based Muller Co. and Rockwood Capital of San Francisco for $117 million. The sale closes a little more than two years after the sellers bought the two-building project for $66 million.The sale was brokered by Robert Smith and Michael Kane of the Newport Beach office of CB Richard Ellis, who also were the listing brokers in the 2003 sale to Muller and Rockwood. Smith and Kane represented both the buyer and the sellers.The 100 Bayview project comprises 317,376 sf of office space that was 90% leased at the time of the sale. AEW bought the property on behalf of one of its institutional clients.Smith and Kane describe 100 Bayview as one of only a handful of trophy office properties in Newport Beach. The project features premium office space as well as one level of subterranean parking at the intersection of Jamboree Road and MacArthur Boulevard at the State Route 73 Freeway in the Orange County Airport Area submarket.The 100 Bayview property is part of Bayview Corporate Center, a master-planned office development of more than 625,000 sf that also includes a 250-room Marriott Suites hotel and adjacent retail amenities with views of Newport Back Bay, John Wayne airport and the San Joaquin Hills. The 100 Bayview property and its parking structure are situated on three parcels totaling 6.3 acres.

Muller is a real estate investment and development company, founded in 1979, by president Steve Muller. It has several satellite offices in Southern California, as well as the San Francisco area and Arizona. Rockwood is a privately-held real estate investment company that manages funds for individuals and institutions with offices in San Francisco and Greenwich, CT.

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