A creative office building in Irvine recently hit the market, offering both a fully-occupied Class A building with a long term tenant. According to the listing by Anchor Point Capital, the 12,198 building is on the market, with guidance set at $10 million, or approximately $825 per square foot.
The property is located at 310 Goddard in the Irvine Spectrum neighborhood. Currently owned by Capitol Services. The modern building has been well maintained by Capitol Services, which acquired it in May of 2021, according to public records.
The building is currently occupied by biotechnology company Artemis DNA and offers a cap rate of four percent. The company recently signed a 15-year lease at the property, which stipulates no management responsibilities from the owner of the building. The lease puts the tenant in charge of all expenses, including insurance, repairs and maintenance.
The property is conveniently situated between Interstates 405 and 5 near the Irvine Spectrum Center, which serves as a hub for entertainment, retail, dining and various other amenities. A wide array of employers also occupy space in the area, including Amazon, Johnson & Johnson, Blizzard Entertainment, Kaiser Permanente and more.
Irvine is home to approximately 316,000 people with an average household income of $134,757 per year. The city is also home to a highly educated community, with four colleges in Irvine, including the University of Irvine, which is just 15 minutes from the property. Overall, the 50-mile radius surrounding the property is home to more than 1 million students.
“This is a rare opportunity to own a Class A property in Irvine, considered the economic heart of Orange County and one of the most prized markets in the Nation,” the listing states. “This prime real estate investment is located in the submarket of Irvine Spectrum amongst a plethora of world class tech and bioscience firms.”
Anchor Point Capital declined to comment at this time.