Grubb & Ellis Co. announced that Los Angeles-based Commercial Ventures Inc. has purchased The Waters at Creekside, a 156,854-square-foot office park in Costa Mesa, Calif.

The transaction was valued at $23 million.

The property, which is located at 2900 Bristol St., consists of nine freestanding buildings on separate parcels. Newport Beach-based Werdin Corp. sold the office park, which was 79 percent leased at the time of sale.

Commercial Ventures plans to break up the property and sell full buildings (12,566 to 18,077 square feet) and individual office suites (from 1,000 square feet). The four buildings in Phase I of the project contain approximately 50 individual office suites that will be sold to owner/users. The five buildings in Phase II will be sold individually to owner/users and investors.

Jeff Hanson and Ryan Gallagher with Grubb & Ellis’ Newport Beach office represented the buyer and the seller in the transaction.

Grubb & Ellis is a provider of integrated real estate services.


Send a Letter to the Editor for publication.
Send a comment or news tip to our newsroom.
Please include the headline of the story.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
Inman Connect Black Friday Sale! Bundle our next two events or secure your 2021 All Access Pass.SEE THE DEALS×
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription