Hines Global REIT acquires 17600 Gillette in Irvine, CA (US)

The Irvine office of Hines, the international real estate firm, announced today that Hines Global REIT has acquired 17600 Gillette from AJ Irvine Owner Corporation. The two-story office building is located in the Orange County Airport area of Irvine, CA. The building contains 98,925 ft² and is 100% leased through March 2016 to Draft FCB, Inc., a global advertising agency.

The seller was represented in the transaction by Jeff Cole and Ed Hernandez of Cushman & Wakefield.

"This asset was extremely attractive to the Hines Global REIT due to its desirable location and lease status," said Charles Hazen, president and CEO of Hines Global REIT. "We believe this acquisition suits our objective of investing in fundamentally sound real estate."

17600 Gillette is Hines' seventh acquisition in Orange County over the last six years and demonstrates the firm's commitment to the area.

"The acquisition of 17600 Gillette is an indication of our positive outlook in the long- term fundamentals of the local market," said Paul Twardowski, Hines partner and vice president who oversees the Orange County and San Diego markets.

Source: Hines

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