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1600 E St Andrew Pl, Santa ...

Drawbridge Realty Leases 286,636 SF To Collectors Universe At Pacific Center
LEASEDOffice

Drawbridge Realty Leases 286,636 SF To Collectors Universe At Pacific Center

1600 E St Andrew Pl, Santa Ana, CA, 9...

Building Size

286,636 SF

Asset Type

Office

Closing

Sep 7, 2022

AI

1600 E St Andrew Pl, Santa Ana, CA is the location of the Pacific Center, where Drawbridge Realty executed a lease agreement with Collectors Universe for an office space encompassing 286,636 square feet. This transaction is part of the Santa Ana market.

Summary of transation details:

  • Property Type: Office
  • Transaction Amount: 15-year lease
  • Tenant: Collectors Universe
  • Landlord: Drawbridge Realty
  • Tenant's Representative: Zev Holzman - Savills
  • Landlord's Representative: Ross Bourne - CBRE
  • Square Feet: 286,636

This lease represents the third long-term agreement Drawbridge Realty has established with significant tenants recently, indicating a structured approach to managing and leasing its properties. Additionally, Drawbridge Realty facilitated this expansion for Collectors Universe by negotiating an early lease termination with Mr. Cooper, enabling Collectors Universe to increase their presence at the Pacific Center.

Players

Zev Holzman

Savills

Broker

6 deals

Broker
DR
Drawbridge RealtyLandlord

Santa Ana Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93