IRVINE, Calif. – April 17, 2018 – Bassman-Blaine Holdings, LLC, a premier full service interior design firm and home furnishing agency based in Orange County, has acquired a 20,772-square-foot (sf) high image two-story creative office building in Irvine, California. The building is part of a newly renovated multi-building campus known as FOREFRONT 405. Bassman-Blaine Holdings, LLC will utilize the property located at 2485 McCabe Way for its new showroom and design studio, as well as corporate functions. The building sold for $7.06 million on an as-is basis. Bassman-Blaine will be making its own renovations and upgrades to the building.
The seller was San Francisco-based Swift Real Estate Partners, which was represented in the transaction by Executive Managing Directors John Griffin and Bob Thagard along with Senior Associates Max Wang and Ali Hawthorne, all based out of Cushman & Wakefield’s Orange County office. The team also serves as the leasing/sales advisors for the full 109,503-sf office project, which caters to a variety of mixed uses. The buyer was represented by Allen Basso of Lee & Associates.
“We are thrilled to have Bassman-Blaine join our prestigious tenant base at FOREFRONT 405,” said Mr. Griffin. “Swift’s major multi-million dollar renovation coupled with a corporate landmark identity in a centralized Orange County location has positioned the FOREFRONT 405 office project to better fulfill the demand from companies seeking higher quality space that is both easily accessible and convenient for their workforce.”
He added, “One of the key attractions for companies is that FOREFRONT 405 really lets users imagine their own space while also offering the potential to own their own building if they desire.”
FOREFRONT 405 is a premier campus consisting of three buildings at 2405, 2445, 2485 McCabe Way. The Class A campus derives its name from its unsurpassed visibility on Southern California’s marquee 405 freeway. The buildings are within minutes of a variety of amenities restaurants, hotels, athletic clubs, financial institutions and business support services. The project offers convenient access to the San Diego (405), Newport/Costa Mesa (55) and Santa Ana (5) freeways and is within a half-mile of John Wayne Airport. It is strategically located within one of the nation’s highest concentrations of executive, scientific engineering and technical personnel.
“This campus provides a highly flexible multi-building/multi-floor design that can accommodate a wide range of uses, from pure office/corporate headquarters to full integration of office engineering, R&D and light assemble functions for maximum operating efficiencies,” said Mr. Thagard. “We are also currently marketing the remaining two buildings for sale or lease, with desirable space options that can accommodate users from 3,000 sf to as much as 88,731 square feet.”
About Swift Real Estate Partners
Headquartered in San Francisco, Swift Real Estate Partners (“Swift”) is a vertically integrated real estate investment firm which seeks to generate attractive risk-adjusted returns for its investors. Swift acquires and repositions office and industrial assets in select West Coast markets, identifying unique opportunities and executing well-defined business plans while providing real-time, day-to-day oversight for each investment. Since inception, Swift has owned and operated real estate valued in excess of $3 billion across more than 8 million square feet. Swift’s professionals bring experience encompassing all aspects of real estate investment and management, including acquisition, financing, leasing, disposition, construction management, property management and creative and marketing services. Swift was founded in 2010 by Christopher Peatross.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.