Drawbridge Realty Buys O.C. Office for $78M, Signs Anduril to 190K-SF Lease
Invesco sold the 14-acre property in Costa Mesa after acquiring it for $84M in 2018
By Nick Trombola October 9, 2025 4:35 pm
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Drawbridge Realty has closed on a three-building office campus in Orange County, Calif., just as it signed a new tenant to lease the entire property.
Anduril Industries, the defense contractor named after the fictional sword of Aragorn from “The Lord of the Rings,” fully leased the Hive, the 190,000-square-foot office campus in Costa Mesa adjacent to its Orange County headquarters. The lease deal closed on the same day that Drawbridge acquired the property for $77.9 million, according to PropertyShark records.
Invesco Real Estate owned the 14-acre property at 3333-3337 Susan Street which includes 3 acres of undeveloped land. The price paid by DrawBridge is a discount from the $84 million that Invesco paid for the property in 2018, per reports at the time.
“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,” Drawbridge CEO Charlie McEachron said in a statement.
Anduril’s lease is just its latest burst of growth in Orange County. Founded in 2017 by Palmer Luckey, Trae Stephens, Matt Grimm, Joseph Chen, and Brian Schimpf with a focus on autonomous military systems, Anduril moved into a 640,000-square-foot headquarters space at the Press, the Los Angeles Times’ former printing facility in Orange County, in 2022.
Just over the past few months, Anduril also leased a 163,000-square-foot industrial space in Santa Ana, and a nearly 42,000-square-foot office lease in Costa Mesa. The latter is, like Anduril’s new space at the Hive, adjacent to its headquarters.
Nick Trombola can be reached at ntrombola@commercialobserver.com.
