Newport Beach office deal tops $35M

JV seller to retain space at project

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Voit Commercial Brokerage negotiated the sale of Birch Bayview Plaza, a two-building office project in Newport Beach, Calif., for $35.8 million. The property comprises 96,067 square feet situated atop first-floor covered parking. The buildings are located at 20401 and 20411 SW Birch St. Birch Bayview Plaza LLC, a partnership of the Steadfast Companies and McCarthy Construction, who both developed the property and are both tenants in the office complex, sold the property to an unidentified buyer. At the time of sale, other tenants included architectural firms such as Watkins/Baile & Associates, Meeks & Partners and Scheuer Architects, as well as information technology services provider, SRA International. The property was 90 percent leased at closing. ...