Olen Pacific Plaza 1303 Avocado Ave

GENERATIONAL FASHION ISLAND OWNERSHIP OPPORTUNITY
* This is a rare opportunity to acquire a highly sought-after office asset in Newport Beach’s prestigious Fashion Island district. With ±17,607 RSF on a ±0.38-acre lot, this generational asset offers investors and users unparalleled flexibility, significant upside, and a marquee coastal location. Built in 1973, the property’s exceptional fundamentals and highly desirable address make it a once-in-a-lifetime investment opportunity.
* The building’s legacy ownership and strategic positioning within Fashion Island
highlight its long-term stability and desirability in a market known for its premier tenants and enduring demand. The property’s premier coastal location offers tenants
easy access to Newport Beach’s lifestyle amenities, including renowned golf courses, private clubs, and pristine beaches, making it an exceptional destination for business and leisure.

SIGNIFICANT VALUE-ADD POTENTIAL
* In-place leases are approximately ±49% below market, presenting an extraordinary mark-to-market opportunity for investors to unlock substantial rent growth. The property’s potential to achieve market-leading rents, combined with its premium location, ensures long-term value creation.
* The property offers a weighted average lease term (WALT) of ±1.6 years, with approximately ±37% of the rentable building area rolling within the next 16 months. This provides a unique opportunity for owner-users to secure occupancy in the near term or for investors to reposition the property at market-leading rents. Small-tenant occupancy, with no tenant exceeding ±16% of the RBA, ensures future leasing flexibility and diversified cash flow.
* Future users or investors can capitalize on the opportunity to reconfigure or update existing spaces to attract high-quality tenants in a market where premium office options are in limited supply. This dynamic value proposition allows buyers to benefit from both immediate cash flow and long-term capital appreciation, positioning the property as an ideal core-plus or value-add investment.

UNPARALLELED NEWPORT BEACH LOCATION
* Located in the heart of Fashion Island, the property is steps away from world-class retail, dining, and entertainment. Fashion Island is Orange County’s premier coastal shopping destination, featuring luxury brands, fine dining, and first-class experiences. The property’s proximity to affluent residential neighborhoods and iconic landmarks underscores its status as a generational investment within one of the most prestigious and supply-constrained submarkets in the U.S.
* Newport Beach’s office market is one of the strongest in Southern California, benefiting from robust rent growth, low vacancy rates, and high barriers to entry. With limited new office development and increasing demand, the market is primed for continued appreciation. Orange County is projected to add significant job growth in the coming years, further driving demand for high-quality office assets like 1303 Avocado Ave.
* The property is situated in one of the wealthiest areas in the nation, with an average household income exceeding $190,000 within a one-mile radius. The surrounding neighborhoods, including Newport Coast, Corona del Mar, and Balboa Island, are home to some of the most affluent residents in Southern California, further enhancing the property’s prestige and appeal to high-net-worth tenants.