November 28, 2016
San Diego-based Cypress Office Properties, LLC, along with joint-venture partner Harbert United States Real Estate Fund VI, L.P., acquired 3 Hutton Centre in Santa Ana from TH Real Estate, a division of TIAA Global Asset Management, for an undisclosed amount.
A capital improvement program is planned for the 198,161-square-foot trophy office tower in the heart of the Orange County Greater Airport area. The Class A, 10-story office building was 90% leased, with more than half of the property occupied by credit tenants Yardi Systems, Compwest Insurance, the U.S. Department of Defense, PSOMAS, and USA Social Security.
Cushman & Wakefield’s Jeffrey Cole, Ed Hernandez, Nico Napolitano, Robert Lambert, and Rick Reeder represented the seller, along with CBRE’s John Weiner. The buyer was self-represented.
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