MGR Real Estate Acquires Costa Mesa Office Complex For $91.5M

A 553,000-square-foot office complex located at 3070 & 3100 Bristol Street in Costa Mesa has been sold for $91.5 million. The property was purchased by MGR Real Estate, represented by Michael Rademaker, while Blackstone, represented by Alex Vouvalides from EQ Office, acted as the seller. The transaction took place on July 27, 2023.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $91,500,000
• Square Footage: 553,000
• Price per Square Foot: $165
• Address: 3070 & 3100 Bristol Street, Costa Mesa
• Market: Costa Mesa

Notable deal participants include MGR Real Estate, led by Michael Rademaker, who served as the buyer's representative. On the other side, Blackstone, through its EQ Office division, was represented by Alex Vouvalides as the seller. Hankey Capital provided the financing for the transaction.