New American Funding Acquires 1 Macarthur Place Office In Santa Ana For $31M | 1 Macarthur Place | Office | Sale

Summary

Sale

CALIFORNIA

Office

208,257 sqft

Located in Santa Ana, the office property at 1 Macarthur Place encompassed 208,257 square feet and was sold for $31,000,000. The transaction equated to a price per square foot of $149.

Summary of transaction details:

Property Type: Office
Transaction Amount: $31,000,000
Address: 1 Macarthur Place
Market: Santa Ana
Buyer: Rick Arvielo - New American Funding
Seller: Josh Baumgarten - Angelo Gordon; Ocean West Capital

One Macarthur Place, LLC, linked to New American Funding, acquired the property, while Josh Baumgarten, representing Angelo Gordon and Ocean West Capital, served as the seller in the transaction at a notably reduced price from its previous sale in 2019.

Details

Deal Summary

SOLD

IMAGE: Josh Baumgarten & Rick Arvielo DATE: 02/16/2024 ADDRESS: 1 Macarthur Place MARKET: Santa Ana ASSET TYPE: Office BUYER: Rick Arvielo - New American Funding (@NewAmericanFunding) SELLER: Josh Baumgarten - Angelo Gordon; Ocean West Capital SALE PRICE: $31,000,000 SF: 208,257 ~ PPSF: $149 NOTE: One Macarthur Place, LLC, linked to New American Funding, purchased a Santa Ana property for $31 million, significantly lower than its previous $54 million sale in 2019. Despite its strategic location near major transportation routes and high traffic flow, the Orange County office market is grappling with stagnant vacancy rates and low demand, with no new construction adding to market challenges.

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Address1 Macarthur Place

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