Newmark Arranges Sale of Stonemill Design Center, a Premier Redevelopment Opportunity in Costa Mesa, California

March 17, 2026 12:00 PM

Newmark announces the Company has arranged the sale of Stonemill Design Center, a flex office campus spanning approximately 8.3 acres at 2915 Red Hill Avenue in Costa Mesa, California.

Newmark Co-Head of U.S. Capital Markets Kevin Shannon, Vice Chairmen Paul Jones and Ken White, Senior Managing Directors Brandon White and Chris Benton and Managing Director Anthony Muhlstein represented the undisclosed seller, an institutional investor, in the transaction. The buyer was a private investor.

"We are pleased to have facilitated the sale of this rare opportunity, which represents one of the best redevelopment opportunities in Orange County," said Jones. "Stonemill Design Center's prime location in the Greater Airport Area, strong in-place income and future redevelopment upside made it highly attractive to investors seeking value-add potential in a supply-constrained market."

The property consists of seven flex office buildings totaling 127,753 square feet, currently 94% leased with a diverse mix of commercial, industrial and office tenants. Situated in the prime Greater Airport Area submarket, Stonemill Design Center benefits from its adjacency to the SR-73 Freeway and proximity to major amenities, including South Coast Plaza.

The campus has maintained strong historical occupancy, averaging 92% over the last six years, and is ideally positioned in a transit-oriented location near SR-73 and SR-55 freeways. This strategic placement allows access to a broad employee base and a reasonable commute to key employment centers in Santa Ana, Anaheim and Irvine, which collectively present over 113 million square feet of office inventory and 452,000 jobs within 10 miles.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended December 31, 2025, Newmark generated revenues of nearly $3.3 billion. As of December 31, 2025, Newmark and its business partners together operated from approximately 175 offices with over 9,300 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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