Newmark Grubb Knight Frank is pleased to announce that MemorialCare Health System in Southern California has purchased a 15-acre corporate campus with a 180,000-square-foot-building that fronts the 405 freeway. The transaction is the largest headquarters purchase over the last year by an Orange County-based company.
The campus, located at 1588 South Coast Drive in Costa Mesa, will be distinctive architecturally and operationally for total immersion into workplace wellness, with walking trails, a fitness center, courtyards, natural lighting, walking work stations, nutritional food choices and designs and spaces promoting health and well-being.
Tim Helgeson, NGKF senior managing director, represented MemorialCare in the transaction.
“MemorialCare was able to take advantage of current market conditions and acquire this strategically located property below replacement cost. The property’s unique combination of large floor plates, open areas and campus setting were perfectly aligned with MemorialCare’s mission to deliver a collaborative and engaging workplace,” said Mr. Helgeson.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with its affiliates and London-based partner Knight Frank, Newmark Grubb Knight Frank employs more than 11,000 professionals, operating from more than 340 offices in established and emerging property markets on five continents.
Newmark Grubb Knight Frank’s integrated services platform includes leasing advisory, global corporate services, investment sales and capital markets, consulting, program and project management, property and facilities management, and valuation services. A major force in the real estate marketplace, Newmark Grubb Knight Frank serves the local and global property requirements of tenants, landlords, investors and developers worldwide. For further information, visit www.newmarkkf.com.
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