Broadcom Acquires 660,893 Square Foot Office Campus In Irvine From PRP Real Assets For $325M

The property asset involved in this transaction is a two-building corporate campus located at 15101 and 15191 Alton Parkway in Irvine, California. The property spans a total of 660,893 square feet and was sold for $325 million, translating to a price per square foot of $492. It serves as the headquarters for Broadcom and includes significant research-and-development space.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $325,000,000
• Buyer: Hock Tan
• Buyer Company: Broadcom
• Seller: Paul Dougherty
• Seller Company: PRP Real Assets
• Market: Irvine, CA
• Square Footage: 660,893
• Price Per Square Foot: $492

Hock Tan represents Broadcom in the acquisition of the property, while Paul Dougherty represents PRP Real Assets in the sale. This acquisition enhances Broadcom’s operational capabilities by providing a dedicated space for corporate activities and R&D initiatives.