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Tireco Inc. Acquires 3 Hutton Centre Drive Office Building In Santa Ana For $28.9M

Property Image
SOLD
$28,900,000
Nick Williams
Sammy Cemo
Matt Pourcho
+ 2

California

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Office
Sold 12/08/2023
the dealplayerscompscontact
Property Image
SOLD

Tireco Inc. Acquires 3 Hutton Centre Drive Office Building In Santa Ana For $28.9M

3 Hutton Centre Drive

See Similar Deals
Office
Sold 12/08/2023
Nick Williams
Sammy Cemo
Matt Pourcho
+ 2
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Office
Transaction Type:Sale

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.

Players

Bryan Johnson
CBRE
Bryan Johnson
49 deals$763.9M volume(949) 809-3762
BROKER
Anthony DeLorenzo
CBRE
Anthony DeLorenzo
117 deals$2B volume
BROKER
Matt Pourcho
CBRE
Matt Pourcho
48 deals$650.7M volume
BROKER
Sammy Cemo
CBRE
Sammy Cemo
30 deals$478.5M volume
BROKER
Nick Williams
CBRE
Nick Williams
17 deals$217.3M volume
BROKER

Details

SOLD
IMAGE: Nick Williams, Bryan Johnson, Sammy Cemo, Matt Pourcho, Brian Rose & Anthony DeLorenzo DATE: 12/08/2023 ADDRESS: 3 Hutton Centre Drive MARKET: Santa Ana ASSET TYPE: Office ~ ACRES: 2.47 BUYER: Tireco Inc. (@TirecoInc) - Brian Rose BROKERS: Anthony DeLorenzo (@AnthonyDelorenzo), Bryan Johnson (@CallMeBryanJ), Matt Pourcho (@MPourcho), Nick Williams & Sammy Cemo - CBRE (@CBRE) SALE PRICE: $28,900,000 NOTE: CBRE brokered the sale of the 10-story office building, 3 Hutton Centre Drive, in Santa Ana, California, from Cypress Office Properties to an entity linked to Tireco Inc. The $28.9 million deal presents a Class A office asset with a 62.2% occupancy rate in Orange County's mixed-use community.

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Deal Type
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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$102,675.60
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