SAN JUAN CAPISTRANO, CA-Furniture designer Nouveau Group LLC has acquired three empty office buildings totaling 49,231 sf for $12.6 million and plans to operate them as a multi-tenant office park, according to Voit Commercial Brokerage. Chris Clark of the Irvine office of Voit Commercial, represented Nouveau along with Tim Walker of Voit’s Irvine office, tells that Nouveau will occupy an estimated 10% to 15% of the space and will lease out the rest.

The three properties that Nouveau acquired are class A buildings adjoining the new Capistrano Valley School District buildings, freeway visibility in a market with “high demand and limited supply for this type of product,” Clark says. Nouveau has named Clark and Walker as the leasing agents for the new office project, which Clark says will be marketed to tenants of all sizes, ranging from about 2,000 sf on up.

The project will likely include a large proportion of professional firms because the buildings are especially well suited for professional office use, according to Clark. Nouveau initially was looking for space for its own use but then decided to acquire the additional space as an investment, he says.

Nouveau bought the three properties from Centra Realty Corp. and King Insurance, both of whom were represented by Dave Travis of the Irvine office of Voit Commercial Brokerage.The three properties are a 10,671-sf building at 33272 Valle Rd., a 19,714-sf building at 33302 Valle Rd. and an 18,846-sf building at 33332 Valle Rd. All three were completed in February of this year.

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