15101 & 15191 Alton Pkwy. — Acquired Broadcom Corporate Campus
Broadcom now owns the ground it stands on in Irvine. The chipmaker closed a $325 million deal on September 4 to buy back its 660,893-square-foot corporate campus at 15101 and 15191 Alton Parkway, paying about $492 per square foot for the two five-story buildings it has occupied under a long-term lease.
The purchase price came in 8.5% below the $355 million that seller PRP Real Assets paid for the same campus back in August 2020, a deal that at the time set the all-time record for the highest-priced single office transaction in Orange County history, according to The Real Deal. That 2020 sale, worth $537 per square foot, had come from developer FivePoint Holdings, which built the campus fresh before selling it to PRP…