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Hines Snaps Up $20.4 million Office Property

Houston-based Hines Global REIT has acquired a two-story, 98,925 sq. ft. office building for $20.4 million from AJ Irvine Owner Corp. in the Orange County Airport area of Irvine, Calif.

The property, 17600 Gillette, is 100% leased to global advertising agency Draft FCB, Inc. through March 2016.

“This asset was extremely attractive to the Hines Global REIT due to its desirable location and lease status,” says Charles Hazen, president and CEO of Hines Global REIT. It is Hines’ seventh acquisition in Orange County over the past six years.

Jeff Cole and Ed Hernandez of Cushman & Wakefield represented AJ Irvine Owner Corp., which is not affiliated with Hines Global or its affiliates.

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