Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEWPORT BEACH, CA-Developers of the 96,000-sf Birch Bayview Plaza have sold the six-year-old office complex for $35.8 million, according to Voit Commercial Brokerage. The office plaza comprises two buildings of two stories each, built above first-floor covered parking at 20401 and 20411 Southwest Birch St., close to the John Wayne Airport.

According to Gil Marrero of the Irvine office of Voit Commercial, who was one of the brokers on the deal, the property was 90% leased to 10 quality tenants at the time of sale and “offers a great investment opportunity for the buyer.” Marrero tells GlobeSt.com that the property represents a stabilized asset with upside in raising the rents over time as leases roll.

The office property is part of an airport area business neighborhood that has been one of the big drivers of the Orange County office market in recent years, accounting for a large portion of the region’s absorption and posting some of its highest rental gains. The airport area also has posted some of the lowest vacancy and availability rates in recent years.

Marrero, who has the leasing assignment for the Bayview Plaza property, was part of a Voit team including Alan Pekarcik and Dan Vittone of the brokerage’s Irvine office who represented the seller, Birch Bayview Plaza LLC. Birch Bayview Plaza LLC is a partnership of the Steadfast Cos. and McCarthy Construction. Steadfast and McCarthy developed the property, and both firms are tenants in the office complex.

Marrero, Pekarcik and Vittone also represented the buyer, who was undisclosed, but property records indicate that the new owner is Ferrado Bayview LLC. The Birch Bayview Plaza, which features views of Upper Newport Bay, is occupied by a tenant roster including architectural firms such as Watkins/Baile & Associates, Meeks & Partners and Scheuer Architects, as well as a leading provider of information technology services, SRA International.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.