David Hyun & Craig Underwood Of Red Hook Capital Partners Acquire Office Building In Santa Ana For $11.3M

The property asset involved in this transaction is a 62,000-square-foot office building located at 1820 East 1st Street in Santa Ana. The sale price for the property was $11,300,000, resulting in a price per square foot of $182. The market for this transaction is Santa Ana.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $11,300,000
• Buyer: David Hyun & Craig Underwood - Red Hook Capital Partners
• Seller: Zhizhao Sun
• Square Footage: 62,000
• Price per Square Foot: $182

David Hyun and Craig Underwood represented Red Hook Capital Partners in the acquisition. The seller, Zhizhao Sun, previously purchased the property in 2019. This deal highlights a 15% discount from that prior purchase, reflecting the current trends in the office market and indicating a potential repositioning of the asset towards educational use.