Updated Dec 4, 2024
Tireco Inc. Acquires 3 Hutton Centre Drive Office Building In Santa Ana For $28.9M
3 Hutton Centre Drive
$28,900,000
Building Size
—
Asset Type
Office
Closing
Dec 8, 2023
About this deal
AI
The 10-story office building located at 3 Hutton Centre Drive in Santa Ana, California has been sold. The sale was brokered by CBRE and the property was purchased by an entity linked to Tireco Inc. for a total of $28.9 million. This Class A office asset is situated on a 2.47-acre plot and is located in Orange County's mixed-use community. It currently has a 62.2% occupancy rate.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $28,900,000
- Address: 3 Hutton Centre Drive
- Market: Santa Ana
- Asset Type: Office
- Acres: 2.47
Cypress Office Properties sold the office building to the buyer, Tireco Inc. The sale was facilitated by CBRE brokers Anthony DeLorenzo, Bryan Johnson, Matt Pourcho, Nick Williams, and Sammy Cemo. This transaction represents a notable acquisition in Santa Ana's office market.
On the Map
$28,900,000
Office
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Santa Ana Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93