1605 Avocado Ave
Newport Beach, CA 92660
Office Property For Sale

INVESTMENT HIGHLIGHTS GENERATIONAL NEWPORT BEACH OFFICE INVESTMENT OPPORTUNITY WITH EXCEPTIONAL CASH FLOW › The Property, built-to-suite for medical uses, will be delivered with a brand new 5 year NNN lease to Newport Diagnostic Center (NDC), a fully-accredited medical imaging facility whose renowned capabilities rival those of Orange County’s top hospitals. NDC’s board-certified physicians and industry-certified technologists provide "best-in-class" medical services through state-of-the-art technology and personalized care. › The Property provides mission-critical proximity between NDC and its affiliated Women’s Center practice next door, enabling a "campus" synergy that makes possible the delivery of comprehensive care. › Newport Diagnostic Center’s long-term tenancy and substantial remaining lease term provide new ownership the benefits of existing cash flow stability and certainty, strong returns and ease of ownership. PRESTIGIOUS NEWPORT BEACH ADDRESS IN UNPARALLELED "LIVE-WORK-PLAY" LOCATION › Priceless cachet of an exclusive Newport Beach address and convenient access to the finest amenities, including acclaimed restaurants, world-class resorts, venerable shopping and entertainment centers, and unlimited fair-weather recreational activities. Within three miles of the Property is Wayne Airport, as well as 318 restaurants, 87 grocery stores, 30 hotels and countless retail shops. › Adjacency to some of the most affluent communities in the United States, providing proximity to executive housing and abundant high-skilled workforce. Nearby several new high-density "live-work-play" residential developments. STRONG MARKET FUNDAMENTALS DRIVING ROBUST RENT GROWTH › Marquee Newport Beach office submarket is among the best performing and most desirable submarkets in the country. The Property’s Fashion Island submarket has a historically-low direct vacancy of 4.8% in 4Q17. › Fashion Island’s medical office market consistently outperforms the rest of Orange County, with the former having a 3.9% direct vacancy in 4Q17, as compared to the latter’s 8.2% direct vacancy. Low vacancy, combined with a low inventory of only 13 medical office buildings, is pushing rents higher in Newport Beach’s Fashion Island submarket.