The company recently inked deals totaling another 58,000 square feet at the Pacific Center office complex not far from the Costa Mesa (55) Freeway, bringing its total footprint at the two-building campus to more than 185,000 square feet.
A year ago, Collectors Universe occupied about 60,000 square feet at the complex.
Burgeoning Business
The latest expansion follow the company’s move last October to double its footprint at the Drawbridge Realty-owned office center, which added nearly 63,000 square feet.
The physical expansion was prompted by a surge in demand from its customer base, with stay-at-home orders sending the trading card industry to record highs.
As of October, the company’s PSA Trading Card and Autograph business was up 130% year-over-year, according to company officials.
Going Private
Collectors Universe—which provides authentication and grading services to dealers and collectors of coins, trading cards, event tickets, autographs and sports memorabilia—went private early this year in a $700 million deal.
The investment group buying the firm was led by Nat Turner, who sold his prior startups, cancer researcher Flatiron Health Inc. for $1.9 billion to Roche Holding AG in 2018, and advertising technology platform Invite Meeting for $81 million to Google in 2010.
Other investors include hedge fund magnate Stephen Cohen, the new owner of the New York Mets baseball team, and Dan Sundheim, who is known as the LeBron James of Wall Street for his ability to make any company look good.
Sundheim, whose D1 Capital opened a $5 billion fund in 2018, is part owner of the Charlotte Hornets basketball team and is a collector of art valued at close to $400 million.
Drawbridge Realty
The new lease brings the 393,000-square-foot Pacific Center campus to full occupancy, according to the landlord.
San Francisco-based Drawbridge acquired the two-building campus in 2019 for a reported $97.5 million, and later renovated the buildings’ lobbies, parking lot, landscaping and signage.
The property, at one point the headquarters for Ingram Micro until its move to Irvine several years ago, is at 1600-1610 Saint Andrew Place, within a designated Opportunity Zone.
Drawbridge also owns an adjacent building, 1700 Saint Andrew Place.
That 171,330-square-foot research and development property is currently occupied by Johnson & Johnson.
