Jeff Gaines Acquires Office Building At 2600 Michelson Drive In Irvine For $42M

The property involved in the transaction is located at 2600 Michelson Drive in Irvine, California. This office asset spans 310,925 square feet and consists of 16 stories on a 4.6-acre lot. It was sold for $42,000,000, equating to a price per square foot of $135.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $42,000,000
• Sale Price: $42,000,000
• Square Footage: 310,925
• Address: 2600 Michelson Drive
• Market: Irvine
• Acres: 4.6
• Buyer: Jeff Gaines - Gaines Investment Trust
• Seller: Adam Gallistel & Andrew Glanzman - CBRE Investment Management
• Brokers: Anthony DeLorenzo, Bryan Johnson, Grant Goldman, Sammy Cemo, Sean Sullivan & Todd Tydlaska - CBRE
• Price per Square Foot: $135

This transaction showcases the involvement of several key players in the real estate market. The sale was brokered by a team from CBRE, which successfully facilitated 14 offers from various interested parties. The property includes amenities such as a fitness center, a conferencing facility, and adjacent parking. It is also positioned to gain from the upcoming Jamboree-Michelson Pedestrian Bridge.