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1261 East Dyer Road Santa Ana, California

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1261 East Dyer Road Santa Ana, California OWNER/USER OPPORTUNITY | 31,496 RSF 1261 East Dyer Road Santa Ana, California EXECUTIVE SUMMARY | NOVEMBER 2020 1261 East Dyer Road, Santa Ana, CA 92705 Newmark, as exclusive advisor, is pleased to present the jewel box owner/user opportunity at 1261 E Dyer Road (the Property). 1261 E Dyer Road is a 31,496-square-foot, creative office building ideally located on 1.78 acres in Santa Ana, California. Built in 1985 and renovated in 2019, the Property resides in the Park 55 campus and is proximate to the Costa Mesa (SR-55) Freeway—one of the most traveled thoroughfares in Orange County—providing high corporate identity. The project recently underwent a major renovation including new landscaping, signage, new main lobby, building façade and on-site coffee shop/café. FINANCIAL SUMMARY $10,250,000 PRICE $325 PRICE PSF 0% OCCUPANCY 2 PROPERTY SUMMARY 31,496 SF 1.78 AC 3.8/1,000 SF 1985/2019 RENTABLE AREA LAND AREA PARKING RATIO YEAR BUILT/RENOVATED 2 1 SD63 411-131-33 STORIES ELEVATOR ZONING PARCEL 3 FLOOR PLANS FIRST FLOOR 1261 E. DYER ROAD, SANTA ANA, CA 4 SECOND FLOOR 1261 E. DYER ROAD, SANTA ANA, CA 5 INVESTMENT HIGHLIGHTS PACIFIC OCEAN NEWPORT BEACH UPPER NEWPORT BAY RARE, HIGH-IMAGE, OWNER/USER OPPORTUNITY IN THE GREATER SOUTH COAST PLAZA AIRPORT AREA 405 COSTA MESA Rare opportunity for an owner/user to acquire a free-standing, two-story office building totaling 31,496 square feet on 1.78 acres in the Greater Airport Area submarket. The Property offers IRVINE best-in-class quality, design and functionality with large floor plates, outdoor meeting spaces, a newly renovated lobby and ample surface parking. DYER ROAD Furthermore, the Property’s strategic location along SANTA ANA the 55 Freeway and available building-top signage BUILDING offers a unique branding opportunity for users 1261 seeking high-corporate visibility. Santa Ana Orange County Airport Exclusive owner user/opportunity: Fully vacant office buildings rarely come to market in the H H O O T Greater Airport Area, especially in the highly sought T EL after Santa Ana submarket. Within the 5.3-million- TER RA CE square-foot Santa Ana office submarket, this is D RI the only fully vacant office building for sale in the VE 10,000–100,000 square foot range. DYER ROAD S. GRAND AVENUE 6 SITE PLAN PACIFIC OCEAN BUILDING 1241 INSTITUTIONALLY OWNED AND MAINTAINED LOW-RISE OFFICE COSTA MESA BUILDING CAMPUS ENVIRONMENT 1231 The Property is part of a larger, five-building campus that is one of only a few, multi-building, low-rise office campuses within the Greater Airport Area. The campus recently underwent a $10-million BUILDING renovation consisting of an outdoor tenant amenity area, an on-site café (the Lost Bean), new modern 1251 exterior building façade and paint, new monument signage, drought-tolerant landscaping, new roof SANTA ANA and new HVAC units. Future ownership has the benefits of unlimited use to all the common areas of the campus, while reserving exclusivity on it’s own parcel. BUILDING 1221 BUILDING EXCELLENT INTRINSIC VALUE BIRTCHER PLACE 1261 The Property is valued well below the estimated replacement cost of $400 per square foot and at a discount to prior peak market sales comparable. EAST DYER ROAD 7 CITY OF SANTA ANA Santa Ana is centrally located in Orange County, and is home to major regional employment nodes, attractive to both residents and employers. The core of the SELECTED CITY DEMOGRAPHICS city is its downtown area, which contains both retail and housing, as well as the Santa Ana Civic Center, which houses a dense campus of administrative buildings for both the city and the county of Orange. 340,599 Santa Ana is often coined the financial and governmental center of Orange POPULATION County, and is the second largest city in the metro based on population. In 2011, Forbes ranked Santa Ana as the fourth-safest city of over 250,000 residents in the United States. $77,884 AVERAGE HOUSEHOLD INCOME ABOUT SANTA ANA Located adjacent to the Santa Ana River, approximately 33 miles southeast of downtown Los Angeles and 10 miles inland from the Pacific Ocean, Santa Ana 2ND presently contains 27.2 square miles. In the late 1800s, the California Central LARGEST CITY IN ORANGE COUNTY Railway created a railroad connecting Los Angeles to San Diego, and Santa Ana served as a major intermediate station. The city continued to grow and expand around the station, forming today’s urban environment. Source: ESRI, October 2019 The city of Santa Ana was incorporated in 1886, following the Mexican- American War and became the county seat in 1889. Development within the city boundaries began soon after, and the city now includes a plethora of homes and apartments, as well as office, industrial and retail developments. Santa Ana has a number of parks and entertainment options, and offers proximity to multiple amusement parks and beaches. Santa Ana lends its name to the Santa Ana Freeway (I-5) which runs through the city, while also offering immediate access to the San Diego (I-405) and Costa Mesa (SR-55) freeways that allow easy travel throughout the metro. The city is also home to the John Wayne Airport, Orange County’s principal airport. 8 santa ana BUILDING IMPROVEMENT CAPITAL COMPLETED IN 2019 $400,000 $905,000 $235,000 TOTAL $130,000 $75,000 $50,000 $15,000 EXTERIOR/ NEW HVAC NEW BUILDING NEW ROOF LOBBY PARKING LOT LANDSCAPE MECHANICAL RENOVATION SYSTEM CALIFORNIA santa ana 9 LOCAL MARKET EXPERTS GREG PUCCINELLI JAMES MEYER Senior Managing Director Associate Director 949.608.2036 949.608.2030 [email protected] [email protected] CA RE Lic. #1215693 CA RE Lic. #01998075 Santa Ana, California JAY NUGENT GEORGE THOMSON Senior Managing Director Senior Managing Director 949.608.2035 949.608.2037 [email protected] [email protected] CA RE Lic. #01248267 CA RE Lic. #00947200 NEWMARK DRE# 1355491 NOVEMBER 2020 The broker for a purchaser of the property shall be entitled to receive a real estate commission only in the event that broker and the property’s owner execute a written commission agreement containing the manner of calculation of that commission and all conditions to its payment, and the satisfaction of those conditions. Absent a written agreement to the contrary between that broker and Newmark, that broker shall not look to Newmark for payment of such a commission or any other compensation. Although all information furnished regarding property for sale, lease, or financing has been obtained from sources deemed to be reliable, that information has not been verified by Newmark and no express representation is made nor is any to be implied as to the accuracy thereof. That information is subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice and to any special conditions imposed by Newmark..
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