Anduril Industries’ Costa Mesa headquarters, a roughly 634,000-square-foot office and research campus built inside a former Los Angeles Times printing plant, is quietly up for sale. The fully occupied complex, packed with labs, prototype manufacturing, and office space, has become a centerpiece of the defense tech firm’s rapid expansion, making the listing stand out in the Orange County market.
According to Bloomberg Law, the 634,000-square-foot campus is owned by Invesco Ltd. and SteelWave LLC and is being marketed by Eastdil Secured. Marketing materials cited by Bloomberg Law show that Anduril occupies the entire property and has roughly 13 years remaining on its lease. Local brokers say it is rare to see a large, fully leased campus with a defense contractor tenant come to market, and that these deals typically draw institutional investors.
There is no public asking price, but recent mortgage activity hints at what the property could fetch. As reported by Bisnow, an ownership mortgage recorded in September was about $251 million, and analysts have extrapolated a potential market value near $400 million from that figure. “It is a very unique sale as it is 100% occupied, and Anduril has very good credit and long-term credit with the federal government,” Stream Realty’s Marty Pupil told Bloomberg Law. Bisnow also notes that Anduril first leased the Costa Mesa campus in 2021.
Long Beach Expansion Keeps Growth Story Intact
The listing does not signal a retreat from California. State officials and the company say a separate Long Beach campus, a roughly $1 billion project totaling more than 1.18 million square feet, is expected to come online in mid-2027, according to the Governor’s Office. the project’s size and local jobs implications have already drawn regional attention as the Long Beach buildout ramps up.
Why Big-Money Buyers Are Circling
Any buyer taking a look at the Costa Mesa campus will be underwriting a tenant with deep federal ties and significant capital. Anduril closed a roughly $5 billion funding round this spring that pushed its private valuation into the tens of billions, according to Gunderson Dettmer. The firm also holds multibillion-dollar government contracts and recently secured large Pentagon work, per GovCon Wire, a combination that tends to calm investor nerves.
Because the campus is 100 percent occupied and backed by a long lease to a company with federal work, brokers expect only a small pool of well-capitalized buyers to seriously pursue the asset. They point to pension funds, life insurance companies and private equity firms that specialize in net-lease properties as the most likely contenders. For now, Eastdil’s marketing materials still do not list an asking price, and Anduril remains in place under its existing lease while it works to bring the Long Beach site online, Bisnow reported.
