Southern California Class A office property trades for $37 million

IRVINE, Calif., Jan. 21, 2025 – JLL Capital Markets announced today that it has completed the $37 million sale of 18201 Von Karman, an 11-story, Class A office property totaling 234,400 square feet in Irvine, California.

JLL represented the seller, New York Life Real Estate Investors, and procured the buyer, a private local operator.

18201 Von Karman is positioned in the heart of the Irvine Business Complex surrounded by an abundance of amenities. The property is within walking distance of 10 restaurants within the Lakeshore Towers complex, a food hall and Lifetime Fitness. In addition, 18201 Von Karman is close to John Wayne Airport and the San Diego Freeway, State Route 55 and State Route 73, providing access to the entire Southern California region.

Renovated in 2016, 18201 Von Karman offers tenants 21,000-square-foot average floorplates, a 936-space parking structure and a modern lobby. The property is currently 43% leased to a dynamic mix of high-quality corporate tenants, including Alliance Healthcare, Revance, Center Street Lending and First Integrity.

JLL’s Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Director Michael Leggett, Senior Director Will Poulsen and Associates John Rankin and Tim Donald.

“18201 Von Karman generated quite a bit of investor interest, ranging from institutional investors to private buyers along the west coast, who saw the value-add potential of the highly amenitized asset,” said Poulsen. “Ultimately, the buyer was the winning bidder given their quick ability to close and their inherent knowledge of the property, as they are the property manager and owner of the three adjacent properties.”

JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

For more than a century, New York Life Real Estate Investors has managed a comprehensive investment program for New York Life, the largest mutual life insurance company in the U.S. Today, the team manages $302 billion across fixed income, real estate and private placements for the NYL General Account and like-minded 3rd party investors around the globe. Headquartered in New York City with offices in Atlanta, Chicago, Dallas, San Francisco, and London, NYL offers its strategic, third-party partners opportunities to invest alongside NYL across a diverse set of public and private asset classes.

NYL aims to build long-lasting relationships based on its partnership approach and strong investment discipline across its three investment groups, Fixed Income Investors, Private Capital Investors and Real Estate Investors. NYL has been doing this through all major market and economic cycles since the company started managing investments 175 years ago.