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Santa Ana, Calif., office complex trades for $97.5M

Joint venture partners Pacific Coast Capital Partners and The Brookhollow Group sold a two-building office complex in Santa Ana, Calif., for $97.5 million to Drawbridge Realty, the Commercial Observer reported, citing the buyer.

The property, comprising 390,600 square feet, is at 1600-1610 E. Saint Andrew Place and is in an opportunity zone, according to the publication. Citing property records, the report noted that the sellers acquired the site in 2015 for $44 million and refurbished the asset in 2017. Tenants include Nationstar Mortgage, Collectors Universe and Career Networks Institute.

Drawbridge also owns the nearby campus at 1700 Saint Andrew Place that is fully leased to Johnson & Johnson unit Abbott Medical Optics, the report added.