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PS Business Parks Nets $73M in Santa Ana Office Deal
Glendale, CA-based PS Business Parks, Inc. divested Orange County Business Center (OCBC), a five-building, nearly 440,000-square-foot office campus in Santa Ana, CA to an undisclosed party. The 25-acre campus was 84.9% occupied at the time of sale.
Net proceeds from the sale, after transaction costs, were roughly $73.3 million.
Orange County Business Center is located off the 55 freeway at 1221 to 1261 E. Dyer Rd. in an Enterprise Zone offering tax incentives, and is minutes from John Wayne Airport and Irvine Business Complex. The property has a community beach volleyball area, on-site parking and fiber-optic ready suites.
After closing on the sale, PS Business Parks reports it has 107,000 square feet remaining of the 705,000 square feet of office product in Orange County, previously disclosed as held for sale.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


