Thank you for sharing!

Your article was successfully shared with the contacts you provided.

IRVINE, CA-Hines Global REIT has acquired the 17600 Gillette office building from AJ Irvine Owner Corp. for $20.35 million, according to an announcement by the Houston-based REIT and its public filings. The property is a two-story, 98,925-square-foot office building that is 100% leased until March 2016 to Draft FCB Inc., a global advertising agency.

The lease status of the building and its location in the Orange County Airport Area office submarket were significant factors in Hines’ decision to acquire the property, according to Charles Hazen, president and CEO of Hines Global REIT, which is public and non-traded. According to Paul Twardowski, Hines partner and vice president who oversees the Orange County and San Diego markets, the acquisition “is an indication of our positive outlook in the long- term fundamentals of the local market.”

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
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.