IRVINE, CALIF. — Griffin Realty Trust has completed the disposition of a creative office property, located at 16752 Armstrong Ave. in Irvine, to Rexford Industrial Realty for $40 million. Griffin originally acquired the asset in October of 2013 for $27.2 million.
Fox Head, which Vista Outdoor recently acquired, occupies the entire 82,645-square-foot building. Vista Outdoor is the parent company of more than 40 brands of outdoor apparel and equipment.
Situated on 6.5 acres, the property features abundant parking, a BMX track, a skate park, gathering spaces and firepits. The building offers two floors of creative office space, including conference rooms, common areas, abundant natural light, an open floor-to-ceiling lobby area and designated workspaces.
Kevin Shannon, Paul Jones, Bret Hardy, Ken White and Brandon White of Newmark represented the seller in the transaction.