Bernard Zovighian Of Edwards Lifesciences Acquires Alton Corporate Center In Irvine For $19M

The transaction involved the acquisition of the Alton Corporate Center portfolio, which consists of modern office space totaling 133,417 square feet, located in Irvine, California. The sale price for this portfolio was $19,000,000, resulting in a price per square foot of $142. The property is situated in a life sciences hub within Central Orange County, an area characterized by limited new construction.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $19,000,000
• Buyer: Bernard Zovighian
• Buyer Company: Edwards Lifesciences
• Seller: Cusumano Real Estate Group
• Square Footage: 133,417
• Price Per Square Foot: $142
• Market: Irvine

This transaction was executed as an owner-user deal, enabling Edwards Lifesciences to expand its footprint in Orange County. It reflects the growing demand for owner-user acquisitions due to supply constraints in the region, providing cost-effective office space conducive to their operational needs.