Drawbridge Realty Buys & Secures Lease Deal for Orange County Office Campus

Drawbridge Realty recently closed a deal for approximately $78 million to acquire The HIVE from Invesco Real Estate. This latest addition is a 190,000-square-foot office campus in Orange County, Calif. Eastdil Secured brokered the sale.

The acquisition of The HIVE — a complex of three two-story buildings situated on 14 acres in Costa Mesa’s Greater Airport submarket — bolsters Drawbridge’s 2025 portfolio. The campus, located at 3333-3337 S. Susan St., offers various amenities, including an espresso bar, a fitness center, conference spaces and collaborative workspaces. Its location is highly desirable due to its proximity to key destinations such as John Wayne Airport, South Coast Plaza and Metro Pointe at South Coast.

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

With this latest purchase, Drawbridge Realty’s total acquisitions for the year have reached $304 million, representing more than 402,000 square feet of space. This figure includes another major office transaction — the acquisition of Block 13, a nine-story property in Bellevue, Wash., which is secured by a long-term lease with Meta. Beyond its purchases, the company also reported investing an additional $20 million into capital and tenant improvement projects across its national holdings.

Crucially, as part of the acquisition of The HIVE, Drawbridge Realty secured a stable, long-term tenant for the entire campus in Anduril Industries, Inc., a leading developer of next-generation defense technology. Founded in 2017 by Palmer Luckey, Trae Stephens, Matt Grimm, Joseph Chen and Brian Schimpf, Anduril Industries focuses on autonomous military systems. The company, which has occupied a 640,000-square-foot headquarters at the Press (the former Los Angeles Times printing facility in Orange County) since 2022, is expanding its footprint significantly in the region.

In the last few months, the company also leased a 163,000-square-foot industrial space in Santa Ana, Calif., in addition to a nearly 42,000-square-foot office space in Costa Mesa, Calif. Both of these recently leased spaces, like the new space at The HIVE, are strategically located adjacent to Anduril’s main headquarters.

Tucker Hughes of Hughes Marino represented Anduril during the lease negotiations.