20 ACRE REDEVELOPMENT
625IVE 625 N. GRAND • SANTA ANA, CA 2 625IVE
THE PROJECT
625IVE will be a 20-acre mixed-use transit-oriented redevelopment of the former Orange County Register site, currently consisting of a six-story office building Lee & Associates-Orange (“L&A”) totaling 179,953 square feet, an iconic printing press has been retained by Caribou and a six-story parking structure providing 628 spaces. Industries, Inc. (the “Sponsor” or This freeway adjacent, city-block redevelopment is the “Developer”), as its exclusive conceived as a game-changing urban live/work/play agent, to identify a joint-venture project that will provide the region with a equity investor (“Investor”) to fund the development of, 625 N Grand much-demanded true urban core. in Downtown Santa Ana, California. A qualified Investor will have the opportunity to provide equity in return for a to-be-negotiated percentage ownership in the property. Additionally, Sponsor will consider an outright sale of the property with the stipulation Sponsor to provide general contracting services for future development and construction of the property. 3 625IVE
• Over 1 million contiguous square feet of office space.
• Mixed-use environments.
• Possibility of historic tax credits and other adaptive reuse advantages.
• Creative office campus ideal for one user but appropriate as a multi-firm innovation BUILDING HIGHLIGHTS complex. • High visibility six story office building • Adjacent to the regional • 5 freeway frontage and signage transit hub and the • Covered parking in attached parking structure vibrant culture of the • Onsite auditorium, theatre, and cafeteria Downtown Santa Ana arts, • Outdoor patio/balcony entertainment and dining • Basement storage and loading doors scene. • Security system 4 625IVE
LOCATION HIGHLIGHTS
Downtown Santa Ana is quickly returning to its roots as the epicenter of Orange County’s urban lifestyle experience and is developing into a trendy urban live/work/play neighborhood akin to the recent emergence in Los Angeles, Long Beach and San Diego in California, as well as in such out-of-state cities as Portland, Brooklyn and Austin. Under a great transformation Santa Ana is capitalizing on the city’s rich history and cultural ties to the regional community to re-imagine downtown and to create a Vertical Urbanization centering on walk-ability and proximity to work, public transportation, and quality-of-life amenities.
336 Restaurants • 34 Banks •
23 Hotels • 49 Grocers • 10
Health clubs
Within a 5 mile drive to Santa Ana Civic Center, MainPlace Mall, The Outlets of Orange and Tustin Marketplace Adjacent to the Santa Ana Within 2 train stops (10 min) Regional Transportation away from world famous Center (SARTC) – Orange Angel Stadium of Anaheim County & regional mass and the Honda Center transit hub which combines the Amtrac, Metrolink, OCTA Ideally located to recruit and bus service, taxi service and retain the top talent in the the under construction OC greater Orange / LA County Streetcar (Santa Ana’s $400 market, the Inland Empire and million light rail line) all in San Diego County markets. one location.
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OPPORTUNITY ZONE
Real estate developers have a new source of investment for their development projects, created by the Tax Cuts and Jobs Act of 2017.
A new tax incentive for investment in low-income areas designated as “Opportunity Zones” was included in the Tax Cuts and Jobs Act of 2017, signed into law on December 22, 2017. Under this section of the Act, codified as sections 1400Z-1, and 1400Z-2 of the Internal Revenue Code, taxpayers with taxable capital gains from the sale of any asset (stock, property, etc.) who reinvest those gains within 180 days of the date of sale of the asset into “Qualified Opportunity Zone Property” will become eligible to receive significant tax benefits.
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• Property is Located in Designated Qualified Opportunity Zone • Targeted for Shovel Ready Projects
STREETCAR ROUTE • Zones will Provide Incentive for Investors Making Equity Investment
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BENEFITS • Deferral of Capital Gains • Reduction of Capital Gains • No Tax on Capital Gains Realized on Qualified Opportunity Zone Property 625IVE
CARIBOU INDUSTRIES
Caribou Industries, owned and operated by the pioneering Michael Harrah, is a holding company Marshal J. Vogt for leading businesses in real estate, travel and [email protected] hospitality throughout Arizona, California, Hawaii Lic #: 01519213 and Nevada. Its expansive portfolio includes 714.564.7117 commercial real estate holdings, restaurants, Matt Orville hotel resorts, entertainment venues and aviation. [email protected] Founded in 1977, the company is headquartered Lic #: 01830994 in Santa Ana, California. 714.564.7145
Through its real estate arm, Caribou Industries Jaimeson Hearne plays a leading role in revival of Santa Ana as seat [email protected] Lic #: 01925107 of government for Orange County and the city’s 714.564.7146 aspiration to become the county’s urban center. Through strategic and value-add investments, the Jack Haley company has transformed and stabilized some of [email protected] Orange County’s most iconic landmarks, sparking Lic # 01064859 other revitalization efforts in downtown Santa 714.564.7172 Ana that are rapidly transforming the area into a vibrant urban core. EXCLUSIVELY LISTED BY:
“Biggest real estate force in Orange County’s biggest city.” OFFICEADVISORYGROUP.COM Orange County Business Journal All information contained herein has been provided by Seller and/or third parties, but has not been independently verified by Lee & Associates or its agent(s). Buyer and interested parties should independently verify all information communicated by these sources.