This article originally appeared in Rebusiness Online
March 14, 2023
NEWPORT BEACH, CALIF. — Buchanan Street Partners has sold a two-building, 42,697-square-foot office property to a private Newport Beach real estate firm for $20.4 million.
Buchanan purchased the offices in 2020 for $11.5 million. Located at 1400 and 1420 Bristol St. N., the property was 22 percent leased at the time of sale. Buchanan had initially planned to carry out an adaptive reuse initiative at the property until the buyer, a residential developer, showed interest.