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The former Kawasaki U.S.A. headquarters in Irvine just sold to Karma Automotive for $56.25M.
Karma had been leasing the 262,463 SF facility at 9950 Jeronimo Road since August of last year.
Bixby Land Co. owned the property, originally purchasing it with plans to reposition it to attract larger companies.
“We set out to transform a vacant building and develop a compelling alternative to the existing inventory of big-block office space in Orange County,” Bixby Land Co. CEO Bill Halford said. “Our inventive redesign inspired a vision for the needs and work environment that dynamic users seek.”
Karma plans to add a "Branded Experience Center" for its new Revero luxury sedan and other amenities.
CBRE senior vice presidents Gregg Haly and Jeff Carr repped Bixby.
Karma Automotive was repped by Heathwest Realty broker Kevin Leonard.
This is the first of nearly 30 properties Bixby Land purchased and planned major repositionings for that was leased, then sold before the redevelopment was done.
Bixby Land also sold an adjacent 4.7-acre vacant land parcel to Chapman University to expand its campus in Irvine.
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