Premier Orange County office sells for $103m

IRA Capital has paid $103 million for 2722 Michelson, a class A “creative” office on approximately nine acres of land at the intersection of Jamboree Road and Michelson Drive in Irvine, Calif.

The location is the gateway corner to the Irvine Business Complex (IBS) and is near John Wayne airport, with access to the 55, 405 and 73 freeways. Known locally as the former headquarters of St. John Knits, the building was recently renovated in 2019 and is 100 percent leased to Anduril Industries. The building features 24-foot ceilings, a light-filled open plan that encourages collaboration, multiple meeting spaces, a fitness center, landscaped courtyards, and a well-equipped kitchen and cafeteria. The IBC has undergone significant redevelopment over the past decade with residential, retail and class A office projects, including Trammel Crow's 550,000-square-foot Boardwalk office project situated on the same block as the property.

The tenant, Anduril Industries, is a growt