When the founder of a well-known microwavable snack company sold his business to Nestlé for $2.6 billion, he relocated to Newport Coast and began building his personal and professional presence in the area. During the purchase of a residential lot, he inquired about securing a premium office building for his family office. While the Irvine Company typically retains ownership of its commercial holdings, they suggested he reach out to Economos DeWolf for private opportunities.
Through a targeted, off-market search, Economos DeWolf secured 4350 Von Karman Ave – a four-story, 68,000-square-foot Class A office building in Newport Beach. The asset sold for $13,000,000. Years later, Steve Economos facilitated its sale again, this time to COMAC (Commercial Aircraft Corporation of China), who continues to own and occupy the property. The second transaction closed at $19,850,000.
