Bixby to Invest $25M for ‘Dynamic' Redux

TUSTIN, CA—Bixby Land Co. has purchased 15771 Redhill Ave., a 79,756-square-foot office property here, from 15771 Red Hill LLC for $13.3 million. The firm plans to transform the building into a contemporary workplace, investing another $11.7 million into renovations that will include the addition of 10,000 square feet of space as well as interior and exterior upgrades.

The seller was represented in the transaction by Mike Hartell of Voit Commercial, while Bixby represented itself. This is Bixby’s third building purchased in Orange County for creative-office development in the past year, marking the continuation of its strategy to deliver modern office projects with exceptional outdoor amenity areas. Bixby has invested more than $425 million in this strategy over the past three years and now has almost 700,000 square feet of projects in its development pipeline.