2700 NORTH MAIN STREET
SANTA ANA, CA 92750
SALE PRICE: $18,600,000
TWELVE-STORY OFFICE TOWER
Alex Reyhan and Daniel Hirth of the Hirth Group are pleased to announce the successful closing of 2700 N Main St, Santa Ana, CA. The Hirth Group played the role of representing the Buyer, a valued client engaged in a 1031 Exchange, seeking an office building at a favorable price per square foot. Throughout the process, Alex Reyhan and Daniel Hirth collaborated with the buyer, identifying several off-market opportunities to ensure a timely exchange and pinpointing the ideal property that met the buyer's criteria.
Situated in Santa Ana, adjacent to the MainPlace Mall, 2700 N Main Street is a notable high-rise office building comprising 120,560 square feet, with a significant portion—over 48%—of the property currently unoccupied. The property spans approximately 196,020 square feet of land. This distinctive opportunity presented various options for the buyer, including entitlements for over 300 units across the entire parcel or the possibility of maintaining the office building while constructing nearly 200 multifamily units in the rear. The Hirth Group adeptly negotiated the sale off market, securing a price nearly 10% below the Seller's acquisition cost in 2016. Throughout the process, Alex Reyhan and Daniel Hirth partnered with the Buyer, offering support in underwriting, strategizing, developing an exit strategy, and successfully navigating through escrow to complete the transaction. To safeguard the Buyer's interests, they successfully negotiated a $1,250,000 credit from the Seller.