Drawbridge Realty Completes Purchase of HIVE Office Campus in Costa Mesa and Concurrently Leases 100% to Anduril Industries

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COSTA MESA, Calif.--(BUSINESS WIRE)--Oct 9, 2025--

Drawbridge Realty has completed the purchase of The HIVE, a 190,000 square foot, three-building Class A office campus at 3333-3337 South Susan St., in Costa Mesa’s Greater Airport submarket. The seller was Invesco Real Estate. Eastdil Secured brokered the transaction.

During the transaction, 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 on the same day that the transaction closed. Tucker Hughes of Hughes Marino represented Anduril in lease negotiations.

The HIVE is adjacent to The Press, the repurposed Los Angeles Times Orange County printing facility and now Anduril’s award-winning 634,000-square-foot headquarters campus.

“The HIVE underscores our commitment to investing in high-quality assets backed by strong credit tenants,” said Charlie McEachron, CEO of Drawbridge Realty. “It is 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.”

In addition to stable, in-place income from Anduril’s long-term lease, the acquisition includes approximately three acres of excess land with future development potential.

Built in 2003, The HIVE spans 14 acres and features three two-story buildings, a community courtyard with espresso bar and outdoor lounge, indoor and outdoor conference and workspaces, and a fitness center. Its location provides exceptional connectivity—just minutes from South Coast Plaza, Metro Pointe at South Coast, and John Wayne Airport.

With the addition of The HIVE, Drawbridge has acquired $304 million in assets year-to-date, totaling over 402,000 square feet. This summer, the firm acquired Block 13, a nine-story office tower in Bellevue, WA, fully leased on a long-term basis to Meta. Drawbridge has also invested $20 million in tenant and capital improvement projects across its national portfolio in 2025.

Drawbridge’s Southern California presence now includes more than a dozen properties located in Westlake Village, Santa Monica, Orange County, and San Diego County, and leased to a diverse roster of leading companies.

About Drawbridge Realty

Drawbridge is a privately held real estate investment firm, partnered with KKR/Global Atlantic, specializing in the acquisition, development, and management of strategically important properties leased to large corporate users. Focused on high-growth, innovation-driven markets across the United States, Drawbridge owns and manages a 7MM square foot portfolio consisting of primarily single-tenant office, R&D, life science, and industrial assets leased long-term to large, creditworthy corporate tenants. Drawbridge has an established history of successfully executing its investment strategy and supporting the evolving real estate needs of major public and private corporations, including Apple, Arrow Electronics, Broadcom, L3Harris Technologies, Meta, Northrop Grumman, Take-Two Interactive Universal Music Group (UMG), Uber, and others. www.drawbridgerealty.com

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KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY REIT

SOURCE: Drawbridge Realty

Copyright Business Wire 2025.

PUB: 10/09/2025 06:21 PM/DISC: 10/09/2025 06:20 PM

http://www.businesswire.com/news/home/20251009848730/en