CBRE Brokers $11.5M Sale of Office Building in Newport Beach, California

Offices in Newport Beach’s Fashion Island Market Trade to Family Office

CBRE facilitated the $11.5-million sale of a 15,200-square-foot office property at 1303 Avocado Ave. in Newport Beach to a local family office. The firm’s Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Harry Su represented the seller, a local private partnership. “The Fashion Island market within Newport Beach is one of the most coveted office markets in the country, driven by its coastal lifestyle, affluent demographics and consistently stron…

CBRE Brokers $11.5M Sale of Office Building in Newport Beach, California

NEWPORT BEACH, CALIF. — CBRE has negotiated the sale of an office property located at 1303 Avocado Ave. in Newport Beach. A local family office acquired the asset from a local private partnership for $11.5 million. Built in 1973, the two-story, 15,200-square-foot property was 96 percent occupied at the time of sale. Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Harry Su of CBRE represented the seller in the deal. The post CBRE Brokers $11.5M …