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7/12/17
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WTW Properties LLC paid $3.3 mil for a 13.1k sf ($252/sf) building in Santa Ana. The facility, located at 154 E. Warner Ave, represents the final building at Brookhollow Freeway Showroom Center, an 87.6k sf, multi-tenant retail/showroom project by MCA Realty.
The development, which is located alongside one of Orange County’s busiest freeways, consists of four separate buildings, three of which were previously sold by MCA in late 2015. The sale of this fourth building, a retail showroom currently occupied by Wine Exchange, brings the investment completely full cycle.
MCA Realty initially purchased the property in 2013 for $9.5 mil and implemented a comprehensive capital improvement plan, including interior and exterior improvements, updates to the façade, and a renovated landscaping scheme. The previous three buildings were sold for a combined total of $16.8 mil.
Joe Winkelmann, Nick Velasquez, and Michael Hartel of Colliers International represented MCA Realty in the sale. Ryan Swanson and Chris Conway of Lee & Associates repped WTW Properties.
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