Costa Mesa, Calif., (March 12, 2025) – Voit Real Estate Services is pleased to announce that Senior Vice President and Partner Eric Smith, SIOR of our Anaheim office, successfully directed the $7,125,000 acquisition of the 43,250-square-foot office building known as Newport Victoria Plaza in Costa Mesa, on behalf of his client, Royal Tulip Investments. With less than 35% occupancy, the building transacted at $165 per square foot which is significantly below replacement cost. This transaction was one of a handful of large office building sales that were not part of a portfolio sale in Orange County thus far this year.
Royal Tulip Investments, a private investment firm based out of Seal Beach, California, will relocate its offices to a portion of this property and lease out the remaining space. According to Smith, his client has added the Newport Victory Plaza as a long-term coastal investment opportunity to their portfolio of office properties that are 100% occupied at fair market rates. Royal Tulip Investments has accomplished this exceptional occupancy rate through a “no expense spared” renovation and a white glove leasing and management process.
“We are very excited to be able to breathe new life into this asset. Its location and nearby amenities will make it very attractive to the local business and entrepreneur community,” according to Smith. “The buyer is a large believer in office product and has extensive experience creating beautiful office buildings that lease exceptionally well. In fact, across their numerous office properties, they are 100% leased.”
The CBRE brokerage team of Anthony DeLorenzo, Sammy Cemo and Bryan Johnson represented the private seller based out of Beverly Hills.
The property is located at 2183 Fairview Road, Costa Mesa.
About Voit Real Estate Services
Voit Real Estate Services is a privately held, broker-owned Southern California commercial real estate firm that provides strategic property solutions tailored to clients’ needs. Throughout its more than 50-year history, the firm has completed in excess of $64.1 billion in brokerage transactions encompassing more than 58,250 brokerage deals. Voit’s unmatched expertise in Southern California brokerage, investment advisory, financial analysis, and market research enables the firm to provide clients with forward-looking strategies that create value for a wide range of assets and portfolios.