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
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