Key facts
- Anduril Industries' 634,000-square-foot Costa Mesa headquarters is for sale.
- The property is fully leased by Anduril, with 13 years remaining on its lease.
- The estimated value of the campus is around $400 million.
- Anduril is also developing a new 1 million-square-foot campus in Long Beach.
The 634,000-square-foot Costa Mesa headquarters of defense technology firm Anduril Industries has been put on the market by its owners, Invesco and SteelWave. Anduril, which develops aerial drones and surveillance networks and holds significant federal government contracts, leases the entire facility. The company's valuation recently doubled following a $5 billion funding round led by Thrive Capital and Andreessen Horowitz.
While no official price guidance has been released by the marketing agent, Eastdil Secured, the property's value is estimated to be around $400 million. This estimate is based on a September mortgage of $251 million and an assumed 65% loan-to-value ratio.
Marty Pupil, Executive Managing Director at Stream Realty Partners, noted the uniqueness of the sale due to Anduril's 100% occupancy, strong credit, and long-term federal government contracts. Anduril, valued at $61 billion, leased the property in 2021 after it was converted from a Los Angeles Times printing facility into creative office space.
This sale comes as Anduril is expanding, having announced plans in January for a new 1 million-square-foot campus in Long Beach, slated for completion in mid-2027. This development reflects a broader trend of aerospace and defense companies increasing their presence and seeking new facilities in Southern California.