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2677 Main Street

Orange County Transit Authority Acquires Office Building From The Muller Company For $54.5M
SOLDOffice

Orange County Transit Authority Acquires Office Building From The Muller Company For $54.5M

2677 Main Street

$54,500,000

$247/SF

Building Size

220,452 SF

Asset Type

Office

Closing

Oct 25, 2024

AI

The transaction involves the sale of an office property located at 2677 North Main Street in Santa Ana, California. The sale price was $54,500,000 for a building that encompasses approximately 220,452 square feet, resulting in a price per square foot of $247.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $54,500,000
  • Address: 2677 North Main Street
  • Market: Santa Ana
  • Square Footage: 220,452
  • Price Per Square Foot: $247
  • Buyer: Orange County Transit Authority
  • Seller: The Muller Company
  • Seller's Representatives: Taylor Friend, Peter Wells & Justin Hill - CBRE

The Orange County Transit Authority will utilize the property as their new headquarters, with the building less than a mile from their current leased location. The board approved this acquisition in August 2024. The CBRE team consisting of Wells, Friend, and Hill represented The Muller Company during the transaction process.

Players

Taylor Friend

CBRE

Broker

$350.6M

vol

6 deals

Broker

Santa Ana Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.29%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93