Newmark Arranges $89 Million Sale and Financing of Orange City Square, a Premier Office Campus in Central Orange County

December 22, 2025 9:00 AM

Newmark announces that the Company has arranged the sale and financing of Orange City Square (“OCS”), a repositioned Class A office campus totaling 392,523 square feet on 14.1 acres located at 750, 770, 790 and 840 The City Drive South in Orange, California. The property traded for $89 million.

Newmark Co-Head, U.S. Capital Markets Kevin Shannon, Vice Chairmen Paul Jones and Ken White and Senior Managing Director Brandon White represented seller Granite Properties in the transaction. Newmark Co-President, Global Debt & Structured Finance Jonathan Firestone and Vice Chairman Blake Thompson handled $57 million in financing for the buyer, MGR Real Estate.

“This sale is a compelling entry point for MGR into one of Orange County’s most active submarkets,” said Jones. “Orange City Square stands out for its quality asset management, immediate leasing momentum and limited future capital expenditures that will generate strong cash flows for the foreseeable future.”

Built in 1988 and extensively renovated through 2025, the property features three office buildings encompassing 383,558 square feet and an 8,966-square-foot-retail component. The project was 84% leased at the time of sale to a diversified roster of 58 tenants. Amenities include reimagined lobbies, a customer lounge with kitchen, fitness center, two conference centers and outdoor event space with TVs, Wi-Fi and BBQ facilities.

Shannon added, “This transaction represents another example of private capital buying Class A office product at massive discount to replacement cost and prior peak pricing at a time where the leasing fundamentals have clearly turned.”

Strategically located adjacent to the SR-22 freeway with access to I-5 and SR-57, OCS benefits from proximity to The Outlets at Orange for dining and entertainment options, as well as the Platinum Triangle district—home to the Anaheim Angels and Ducks, plus developments like OCVibe and the proposed Angels Stadium redevelopment.

According to Newmark Research, the Central Orange County office market continues to exhibit stability amid broader sector headwinds, with overall Orange County vacancy holding steady at 15.2% in Q3 2025, driven by positive net absorption of 450,000 square feet in the submarket year-to-date. Leasing velocity reached 1.2 million square feet across the county in the quarter, with Class A properties like OCS outperforming due to amenity-rich campuses and limited new supply. These trends underscore the submarket’s appeal for value-add investors seeking resilient, freeway-adjacent assets with redevelopment flexibility.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2025, Newmark generated revenues of over $3.1 billion. As of September 30, 2025, Newmark and its business partners together operated from approximately 170 offices with over 8,500 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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