The biggest office sales and leases, industrial sales and leases, hotel sales and apartment sales

OFFICE SALES

Laguna Hills-based Birtcher Real Estate Group and the Pradium Funds of New York joined forces in acquiring Brookhollow Office Park in Santa Ana for $41 million, the largest office deal by square footage in Orange County in 2000.

The deal is another sign of renewed interest among real estate investors in the corridor along the Costa Mesa (55) Freeway in Santa Ana and Irvine, spurred in part by the growing attraction of technology companies to the area’s many low-rise office buildings.

The Birtcher-Pradium team purchased the property from a partnership of Santa Ana-based CALVEST Realty Advisors Inc. and Dallas-based Olympus Real Estate.

The park, a mix of office and retail space, has 24 buildings on 31.8 acres along the 55 Freeway near the intersection of East Dyer Road and Grand Avenue. Approximately 85,000 square feet of showroom space are in the park, with tenants such as Adair Office Furniture, Plummers Home and Office Interiors and Sit ‘n Sleep. Other tenants include Catholic Charities, Children’s Village daycare and Zurich Payroll Systems.

“The business plan for the company right now is to be an operating company, buying and selling opportunity real estate,” said Rodger Grove, director of acquisitions for Birtcher Real Estate.

CALVEST Realty Advisors and Olympus made a hefty profit in selling the property. They sold it for approximately twice the amount they paid and invested in it.

“Our business plan is basically to buy and renovate assets,” said Greg Hillgren, president of CALVEST Realty, which is the West Coast partner of Dallas-based Olympus Real Estate, an opportunity fund.

“We hold for a three- to four-year period. So we achieved the objectives of our fund and exceeded our business plan.”

Rob Socci of Voit Commercial Brokerage represented both parties in the Brookhollow transaction.

, Daniel Williams

LARGEST OFFICE SALES

(by square footage)

BROOKHOLLOW OFFICE PARK

1500-1570 Brookhollow Ave.

Santa Ana

400,618 sq. ft.

Price: $41,000,000

Buyer: Brookhollow Office Park

Associates LLC

Buyer rep: Voit Commercial

Buyer agent: Rob Socci

Seller: Olympus Brookhollow/Calvest

Seller rep: Voit Commercial

Seller agent: Rob Socci

STADIUM CROSSINGS

2015-2105 E. Katella Ave.

Anaheim

352,000 sq. ft.

Price: $34,900,000

Buyer: SY Ventures I LLC

Buyer rep: N/A

Buyer agent: N/A

Seller: CH Anaheim Ltd.

Seller rep: N/A

Seller agent: N/A

THE ATRIUM

19100-19200 Von Karman Ave.

Irvine

288,718 sq. ft.

Price: $60,000,000

Buyer: Atrium Irvine LLC

Buyer rep: CB Richard Ellis

Buyer agents: Bob Smith, Jerry Nourse

Seller: Hyogo Atrium Inc.

Seller rep: CB Richard Ellis

Seller agents: Bob Smith, Jerry Nourse

TERRACE TOWER

1900-1902 Main St.

173,247 sq. ft.

Price: $47,775,000

Buyer: Terrace Tower Orange

County LLC

Buyer rep: Empire Investments

Buyer agent: John Bochis

Seller: KN One LLC

Seller rep: Empire Investments

Seller agent: John Bochis

IRVINE BUSINESS COMPLEX

1 Corporate Park

Irvine

162,776 sq. ft.

Price: $25,250,000

Buyer: PS Business Parks LP

Buyer rep: Grubb