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Newport Beach, California, Medical Office Building Trades Between Private Developers

Joint Venture Acquires Newport Irvine Center for $240 per Square Foot
The Newport Irvine Center was almost 70% occupied at the time of sale. (CoStar)
The Newport Irvine Center was almost 70% occupied at the time of sale. (CoStar)
By Dusty McClure
CoStar Research
November 27, 2023 | 4:51 P.M.

Cress Capital and C-III Capital Partners jointly sold the 77,135-square-foot Newport Irvine Center office building in Newport Beach, California, to Real Estate Development Associates for $18.5 million or about $240 per square foot.

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