Maguire Properties Inc. said on Friday it is selling 18301 Von Karman, an 11-story office tower in Irvine, for $112 million.
The Hearn Co., a privately held real estate investor, is buying the building. The deal should close by the end of the year.
At 230,605 square feet, the building is selling for nearly $486 per square foot, which is at the top end of prices paid for the area’s office towers.
A sale was expected. Los Angeles-based Maguire, Orange County’s second-largest office landlord after The Irvine Company, confirmed earlier this month it was shopping the office tower, along with two buildings in Orange.
Maguire acquired the building earlier this year. It previously was owned by Equity Office Properties Trust. Maguire sold off another $655 million of local offices formerly owned by Equity Office last quarter.
18301 Von Karman houses the headquarters for Golden State Foods Corp. It’s next door to 2211 Michelson, the new office tower by Hines Interests LP and Crescent Real Estate Equities Co.
