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Drawbridge Closes on $100M Office Deal in Orange County
San Francisco-based Drawbridge Realty purchased Pacific Center, a 390,600-square-foot, two-building corporate office campus in Santa Ana, CA for $97.5 million. The seller was a joint venture of Los Angeles-based PCCP, LLC and Costa Mesa-based Brookhollow.
Drawbridge’s Chris Elmendorf says, “Pacific Center was recently renovated in 2017 and now has strong anchor tenants in place. Combining the campus with our neighboring investment at 1700 East Saint Andrew Place, Drawbridge now owns over 37 acres of contiguous land and improvements strategically located in an opportunity zone.”
Located at 1600-1610 East Saint Andrew Pl., the property is centrally located within the Greater Airport Area office submarket near John Wayne Airport. The project provides well-staggered lease expirations from its four current tenants, which are leaders in their respective industries. The acquisition boosts Drawbridge’s greater Orange County portfolio to more than one million square feet.
NKF’s Kevin Shannon, Paul Jones, Brunson Howard, Blake Bokosky, and Brandon White represented the seller. CBRE’s Ross Bourne and Dave Desper provided local market expertise on the deal and are the leasing agents at the property.
Connect Orange County is coming up on August 22nd at The Resort at Pelican Hill in Newport Coast. More information about the event and registration information can be found here.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
