Available For Sale - Industrial , Warehouse

125,043 SF

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LISTED BY

Marshal Vogt
Lee & Associates, 714-647-9100
Jaimeson Hearne
Lee & Associates, 714-564-7146
John Hatzis
Lee & Associates, 714-564-7137
Chuck Noble
Lee & Associates, 714-564-7100

AVAILABILITY DETAILS

Size
125,043 SF
Price/SF
N/A - Contact for Info
Listing ID
SA550259
Notes
THE OFFERING

Lee & Associates (“L&A”), as exclusive advisor, is pleased to present

the exciting opportunity to acquire 100% fee simple interest in

ParkCenter 400 (the “Property”), a ±125,043 square foot, multi-tenant

office building situated on 4.90 acres of land, located in Santa Ana,

California. The Property offers investment flexibility for an owner/user

to immediately occupy ±28,265 SF with options to expand as existing

tenants expire or an investor hold and lease plan while seeking

residential development entitlements.

TOTAL BLDG AREA 125,043 SF

AVG FLOOR SIZE 31,261 SF

LAND AREA 4.90 acres

# OF STORIES 4

# OF PARKING STALLS 408

PARKING RATIO 3.26 / 1,000 SF

OCCUPANCY 77.4%

WALT 2.79 Years

# OF TENANTS 28

YEAR BUILT 1979

ZONING Office Professional

PARCEL #

400-043-08

400-043-09



INVESTMENT HIGHLIGHTS

Owner/User Opportunity ‹ The Property offers an owner/user up to

±28,265 SF of immediate occupancy, plus

an additional ±39,405 SF by the end of

2025. With flexibility in the current leases,

relocation and termination rights, an owner/

user can free up significant contiguous

space throughout the building. Highly

desirable low-rise building with surface

parking.

‹ Highly desirable low-rise building with

convenient surface parking.

‹ Multiple building signage opportunities

with exceptional visibility from the heavily

trafficked 55 Freeway.

Strategic Orange County Location ‹ The Property’s central Orange County

location and proximity to the 55, 5 and 22

Freeways is ideal for tenants seeking to draw

employees from a wide radius including

north Orange County and the Inland

Empire, as well as the coastal communities.

It also appeals to local decision makers

who desire convenience and less traffic

congestion.

Best of Class Low Rise Office Building ‹ Arguably the only Class A low-rise office

building in the ParkCenter submarket.

‹ Low-rise office product has significantly

outperformed high-rise product in both

vacancy and rent growth with no signs of

stopping.

‹ Current zoning and parking requirements

provides the ability to convert up to 16,500

SF to medical office space.

Residential Overlay / Potential

Assemblage ‹ The three adjacent properties are within

Santa Ana’s Village Center District residential

overlay offering the potential to assemble

approximately 7.3 acres of land. The City has

expressed interest in extending the overlay

to include 400 N Tustin Ave for an investor

seeking to redevelop the entire block.

‹ Over 1,800 units have been developed or are

on-line to be developed within the immediate

‹ Purchase Price sub-market.
Uses
Industrial
Warehouse

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Marshal Vogt, Lee & Associates