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5/17/16
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San Francisco-based Drawbridge Realty recently closed on an Orange County office/R&D buy, paying $37 mil for a 171.3k sf ($216/sf) building in Santa Ana. The three-story, Class A building is 100 percent leased to Abbott Medical Optics.
Built in 1991, the building is located at 1700 East Saint Andrew Place, approximately five miles from John Wayne International Airport in Orange County. The property has been leased to Abbott Medical Optics for 14 years.
Louay Alsadek, Chip Wright and Ross Bourne of CBRE, along with Paul Jones and Blake Bokosky of Newmark Grubb Knight Frank, represented the seller, Del Mar Partnership, a private real estate investor. Drawbridge Realty repped itself in the deal. According to Alsadek, there was significant interest in the property.
“The building’s location, high-quality finishes and improvements combined with the investment-grade tenant’s commitment to the property attracted a substantial pool of buyers,” Alsadek said.
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