Newport-Victoria Plaza 2183 Fairview Rd

WELL LOCATED ORANGE COUNTY OWNER-USER OFFERING
* Attractive Office Offering | Newport Victoria Plaza presents an incredible opportunity for an office owner-user to acquire a recently improved, contemporary office building in a dynamic Costa Mesa location. The asset provides a user a well located, two-story office building with occupancy flexibility, in-place income, and secure subterranean parking.

* Flexible Owner-User Opportunity | At 34.4% leased, the property allows an owner-user to occupy up to ±28,383 SF immediately and grow into the full building over time. With flexibility in the current leases, and potential ability to relocate tenants throughout, a user can free up large blocks of space throughout the building. With potential signage opportunities, new ownership’s company sign could be seen by over 31,000 vehicles per day.

* Ideal Owner-User Investment | For an owner-user, this offering is an ideal corporate headquarter investment that provides an attractive lease-saving trade-off. The purchase provides protection against future rental market uncertainty and rate hikes, as well as after-tax equity accumulation.

EXCEPTIONAL MARKET FUNDAMENTALS
* Attractive Investment Region | According to CBRE’s Investor Survey, Orange County is among the top investment regions in the Americas in 2022 among investors, reflecting the county’s resilient market fundamentals. With strong employment and an attractive quality of life, Orange County is a highly sought-after gateway market.

* Attractive Low-Rise Fundamentals | Over the last decade, growth among the low-rise products has been robust, out-pacing high-rise products in vacancy compression and rent growth. As of 3Q23, direct vacancy for low-rise office was 8.8%, well-below the rest of the office market. This trend is expected to continue into the foreseeable future.

* Future Redevelopment Upside | The asset falls within Costa Mesa’s recently passed “Measure K” which Modifies previously passed Measure Y to allow for new residential development in commercial and industrial areas, while keeping residential neighborhoods intact. More info. can be found on page 23 of the OM.

INFILL, COASTAL LOCATION WITH HYPERGROWTH AND WORLD-CLASS AMENITIES
* Highly Desirable Location | The asset, sitting on Fairview and Newport Blvd. in Costa Mesa, is seconds away from world famous Newport Beach, minutes from the South Coast Metro, Airport Area and Fashion Island. This location provides intrinsically irreplaceable proximity to some of the top beaches, entertainment, shopping, dining and outdoor activities in the nation.
* Multi-Modal Transportation Access | The surrounding multi-modal transit hub offers ease of commute for the region’s workforce as well as proximity to executive housing. Located next to SR-55, the asset has superb access to I-405, SR-73 and
I-5, as well as John Wayne Airport. Such access to critical infrastructure is as important as ever for business success and employee retention.