Santafair Investments Leases 32,740 SF Medical Office In Santa Ana To Multiple Tenants

The asset involved in this transaction is a medical office building located at 2414 South Fairview Street in Santa Ana, which encompasses a total of 32,740 square feet. The property was leased under a Modified Gross Lease agreement.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: Not specified
• Landlord: Santafair Investments
• Tenants: American Family Medical Group, Doctor of Medicine, My Smile Dental, Doctor of Dental Surgery, PAJE Optometric, Doctor of Optometry, Christine Tram, Doctor of Dental Surgery, Pacific Surgical Billing, Chiropractor Ali, Doctor of Chiropractic, Fountain Valley Sleep Agency, Bodjosattva Center, New Hope Imaging Services, Magnetic Resonance Imaging, La Llave Del Arte de la Sanidad, Create Hope Recovery, Dora Hernandez, Tax Preparer, Addiction Anonymous, Kigawa Chiropractic, Inc., Doctor of Chiropractic, Viva Mejor Tarot Card Reading, Dr. Petty Chiropractic, Doctor of Chiropractic, Carlos Ramirez, Martha Reyes, The Krazy Arcade, TCG, Arcade Studios, TCG, Christian Perez, Famers Insurance - Guilivaldo Evaristo, Addiction Anonymous Administration Suite, Surf City Solutions, Tax Preparer
• Broker: Carlos Silguero - Progressive Real Estate Partners
• Lease Type: Modified Gross Lease

Carlos Silguero, representing the landlord, successfully leased the property's multi-tenant space within approximately seven months. This marked the first instance in three decades that an outside listing broker was engaged for the property. Silguero filled existing vacancies with new healthcare tenants and converted month-to-month occupancies into long-term leases, achieving 100% tenant retention among over 25 tenants. Additionally, he facilitated a 10% rent increase for almost all tenants, with some experiencing up to a 35% increase in 2027. These efforts cumulatively augmented the property’s net operating income (NOI) by over $150,000 annually, resulting in an estimated increase in asset value between $2.5M to $3M.