Drawbridge Realty has acquired The HIVE, a 190,000-square-foot, three-building Class A office campus at 3333-3337 S. Susan St. in Costa Mesa’s Greater Airport submarket. The seller was Invesco Real Estate. Eastdil Secured brokered the transaction. Terms were not disclosed.
Simultaneous with the acquisition, Drawbridge entered negotiations with Anduril Industries, Inc., a leading developer of next-generation defense technology, to lease the entire campus on a long-term basis. The lease was signed the same day the acquisition closed. Tucker Hughes of Hughes Marino represented Anduril in lease negotiations.
The Orange County Register reported that the sale put an end to plans that Invesco and Legacy Partners announced in 2023 for converting The HIVE into 1,050 rental units. Charlie McEachron, CEO of Drawbridge Realty, called The HIVE “an outstanding property in a premier location, and our ability to secure a lease with a strong tenant aligns with our long-term investment strategy, making it a natural fit for our portfolio.”
Along with in-place income from Anduril’s long-term lease, the acquisition includes approximately three acres of excess land with future development potential.
