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6 Hutton Centre Drive

Optima Tax Relief Leases 38,090 SF Office Space At Griffin Towers In Santa Ana, CA
LEASEDOffice

Optima Tax Relief Leases 38,090 SF Office Space At Griffin Towers In Santa Ana, CA

6 Hutton Centre Drive

Building Size

38,090 SF

Asset Type

Office

Closing

Nov 14, 2023

AI

Optima Tax Relief has leased 38,090 square feet at Griffin Towers in Santa Ana, California. The location, situated at the intersection of the 405 and 55 freeways, offers Class A office space with flexible floor plans and on-site amenities. This makes it an attractive choice for companies looking to return to the office after the pandemic.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: N/A
  • Square Footage: 38,090
  • Address: 6 Hutton Centre Drive
  • Market: Santa Ana

The landlord of Griffin Towers is Barker Pacific Group (BPG), represented by Michael Barker. Optima Tax Relief, represented by David King, will be the tenant in this lease agreement. The landlord's representatives in the deal are Dean Chandler, Justin Hill, Peter Wells, and Taylor Friend from CBRE. On the tenant's side, Craig Kish and Richard Sung from Newmark facilitated the deal.

Players

Taylor Friend

CBRE

Broker

$350.6M

vol

6 deals

Broker
Michael Barker

Michael Barker

Barker Pacific Group

Landlord

$33.6M

vol

6 deals

Landlord

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