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
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