The longtime home of Ford Motor Co.’s Design Studios in Irvine is up for grabs.
The automotive company exited the nearly 25-year-old property last year, leaving it vacant and ready for a new occupant.
Newmark has been retained to lease the 87,639-square-foot property at 3 Glen Bell Way, the street named after Taco Bell’s founder and where the fast-food chain’s headquarters sits adjacent to the Ford building.
Taiwan-based Skyline Group International owns the property built in 2001, acquiring it from LBA Realty in mid-2021 for $159 million.
“The demand for high-quality R&D and office space in Orange County has surged in recent years, due to the needs of the most prominent companies in automotive, aerospace, defense and life sciences,” said Scott Read, a managing director at Newmark. “Glen Bell Way represents a rare opportunity in the heart of Irvine Spectrum to secure a turnkey facility that embodies innovation and flexibility, positioned well to support the next generation of industry leaders.”
Ford last summer began shutting down the Irvine design studio, where it focused of late on European brands, as the company shifts work to a new electric vehicle development hub in Long Beach, a company spokeswoman told the Register’s Pat Maio on July 17.
At the time, the automaker also filed a notice with California’s Employment Development Department indicating possible layoffs with the transition.
Marlina Frederick, human resources director for Ford in Long Beach, wrote in a June 30 letter to EDD that the Irvine studio would close Nov. 30, which could result in as many as 263 job cuts as some workers moved to Long Beach and Dearborn, Michigan.
Mission Viejo retail center sells for $51 million
A North Carolina investment firm paid $51 million for Gateway Center in Mission Viejo.
A limited partnership called Ap Gateway LP connected to Asana Partners, a real estate investment company based in Charlotte, bought the 47-year-old retail center on Jan. 16, according to documents provided by PropertyShark.
Last summer Asana Partners also paid $25.7 million for the Costa Mesa retail center Westport Plaza & Square on East 17th Street.
The seller was DJM, which bought the property just five years ago for $39.5 million. At the time, DJM said the retail center was 83% leased. Today, that occupancy has risen to 97%, the firm said in a statement.
Tenants at Mission Gateway include Starbucks, Baja Fresh, Saddleback Family & Urgent Care and Chase bank. DJM added new leases with Pacific Dental, restaurant and fitness tenants.
Irvine office campus snags $32 million
The office campus Centerstone Plaza sold in mid-January for $32 million.
New York Life Real Estate Investors sold the 107,028-square-feet three-building campus to LCBC Development.
JLL represented the seller and also brought in the buyer.
The brokerage said the buildings at 4000, 4010 and 4040 Barranca Parkway was renovated between 2024-2025 and was 92% leased to First Team, Keller Williams, MemorialCare and LifeStance Health.
“High-quality suburban office with access to amenities continues to see strong tenant demand and over all outperformance,” said Will Poulsen, a senior director at JLL. “Centerstone was strong example of this with 10-year average occupancy of over 90%.”
Veterinary hospital in Orange fetches $3.2 million
The VCA Orange Animal Hospital property in Orange recently traded LLC owners for $3,165,000, according to property records and Kidder Matthews, which represented both sides of the deal.
The property was listed at $3,339,198.
The buyer, identified as Chapman Range LLC in documents provided by PropertyShark, acquired the property as a long-term investment, according to Kidder Mathews. The brokerage also noted the seller was a veterinarian client.
The building at 1100 W. Chapman Ave. was once owned by veterinarian Jeff Horner who sold his practice to Veterinary Centers of America. Commonly called VCA, the subsidiary of Mars Inc. is one of the largest veterinary hospital operators in the United States.
Kidder Mathews said VCA recently renewed its lease and has options to renew again.
“This is a premier veterinary investment in one of Southern California’s most competitive markets,” said Solomon. “You have a top-performing hospital, a corporate guarantee from the most dominant operator in the industry, and a long-term lease structure that delivers passive income. Opportunities like this are exceptionally rare in Orange County.”
The accredited hospital has five exam rooms (with a planned sixth room), and 23 on-site parking spaces.
Migliori promoted to president at DAUM
Chris Migliori was recently promoted to president at DAUM Commercial Real Estate Services, replacing Michael Nubel, who will remain chairman and chief executive.
Migliori, who has been with the brokerage for decades, previously was executive vice president and principal and based out of the firm’s Newport Beach office.
During his career to date, Migliori has closed over 1,500 transactions exceeding 50 million square feet throughout Orange County and surrounding areas of Southern California, specializing in industrial property, land, sale-lease backs, and 1031 exchanges.
“During his extended brokerage career at DAUM, Chris has consistently been amongst our Top 5 producers, and has been #1 more than half those years,” Nubel said in a statement. “Chris is well respected within our firm and the industry at large. He has the experience, leadership skills, and exceptional knowledge of our business. His appointment has already been an invigorating force within DAUM, and this will extend to our clients and the industry.”
In his role as President, Migliori will be focused on leveraging AI and other proprietary technologies to streamline and elevate companywide operations and collaboration, expanding industry-leading training programs, hand selected recruitment, while enhancing the firm’s branding and marketing for approximately 160 brokers and support staff.
On the move
Stan Kwak, Selden McKnight, Zac Kolander and Jordan Haynes recently exited Voit Real Estate Service and joined Colliers at the firm’s Irvine brokerage. All of them specialize in industrial real estate, including logistics and distribution facilities, manufacturing, last-mile assets, industrial outdoor storage and land. Kwak and McKnight were hired as senior vice presidents, Kolander as associate vice president, and Haynes as a senior associate.
The real estate roundup is compiled from news releases and written by Business Editor Samantha Gowen. Submit items and high-resolution photos via email to sgowen@scng.com . Please allow at least a week for publication. All items are subject to editing for clarity and length.