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Anduril HQ in Costa Mesa up for sale as California defense tech booms

June 26, 2026

By John Gittelsohn | Bloomberg

The Costa Mesa office campus leased to defense technology company Anduril Industries is for sale in a deal that could be worth about $400 million, potentially making it the region’s largest transaction this year.

The 634,000-square-foot office and research campus is owned by Invesco Ltd. and SteelWave LLC.

Also see: Anduril CEO says he’s open to building weapons hub outside of US

Anduril occupies the entire complex as its headquarters, with 13 years remaining on its lease, according to marketing materials from Eastdil Secured, which is handling the listing.

An asking price wasn’t disclosed. But the property’s value is likely around $400 million based on a $251 million mortgage that Invesco and SteelWave obtained from a Pacific Investment Management Co. real estate fund in September, according to property records.

Commercial real estate loans typically cover roughly 65% of a property’s value.

Representatives for Invesco, SteelWave, Pimco and Eastdil declined to comment.

The buyer will likely be a large US or foreign institutional fund, according to Marty Pupil, executive managing director of Stream Realty Partners in Irvine, California.

“This type of investment is more a reflection on Anduril as opposed to the market given the longevity of the lease,” Pupil said in an email. “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.”

The offering comes as Southern California has emerged as one of the country’s fastest-growing centers for defense technology companies, fueled by rising federal spending and evolving weapons strategies since the conflicts in Ukraine and Iran. That growth has made the sector a bright spot in a regional economy weighed down by weakness in Hollywood and other industries.

Venture capital investment in US defense technology startups reached $11.4 billion from the start of the year through mid-June, more than double the $4.6 billion invested during the same period last year, according to PitchBook. Anduril alone raised $7.5 billion over the past year.

Founded in 2017, Anduril develops aerial drones, surveillance networks and autonomous underwater systems using artificial intelligence technology. The company was valued at $61 billion in a funding round completed in May led by Thrive Capital and Andreessen Horowitz.

Anduril has been expanding its manufacturing capacity, announcing plans in January for a $1 billion production facility in Long Beach while building a 5 million-square-foot industrial park in Ohio for combat aircraft production.

The Costa Mesa property, a former Los Angeles Times printing plant, was acquired by Invesco and SteelWave for $65 million in 2017 and underwent extensive renovations that were completed in 2023.

The most expensive Southern California office sale this year was the $210 million sale of the Bank of America Plaza in Los Angeles, which closed this month, according to brokerage Colliers International Group.

The Costa Mesa office campus leased to Anduril Industries is for sale in a deal that could be worth about $400 million, potentially making it the region's largest transaction this year. The 634,000-square-foot office and research campus is owned by Invesco Ltd. and SteelWave LLC. (Courtesy of Invesco and SteelWave) — The Costa Mesa office campus leased to Anduril Industries is for sale in a deal that could be worth about $400 million, potentially making it the region’s largest transaction this year. The 634,000-square-foot office and research campus is owned by Invesco Ltd. and SteelWave LLC. (Courtesy of Invesco and SteelWave)

Anduril HQ in Costa Mesa up for sale as California defense tech booms Orange County Register

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Anduril HQ in Costa Mesa up for sale as California defense tech booms

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