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Harbor Claims Santa Ana Office Asset
Harbor Associates, LLC acquired 2020 E First Street, a five-story, 112,000-square-foot office building in Santa Ana, in a joint venture with Blue Vista Capital Management. The project is located on 3.7 acres, and was purchased for $13.2 million or $118-per-square-foot.
Harbor says the purchase is the lowest per-square-foot acquisition of a 50,000-square-foot-plus office building in the last 10 years, a period that covers 108 building trades. The project is currently 25% leased to four tenants.
Harbor plans to re-position and lease-up the asset through a comprehensive renovation program that includes a fresh paint scheme, upgraded building entry and lobby experience, elevator improvements, new roof, replacement of the original HVAC units, and parking upgrades.
CBRE’s Bob Smith and Michelle Jefcoat represented the undisclosed seller in the transaction. The lender is a subsidiary of Granite Point Mortgage Trust Inc., which is externally managed by Pine River Capital Management L.P.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


