CBRE facilitated the $19.2-million sale of 2020 E. 1st St. in Santa Ana. The firm’s Anthony DeLorenzo, Sammy Cemo and Bryan Johnson, along with Greg Sullivan, David Dowd and Jennifer Whittington, represented the seller, Harbor Associates. The buyer was not disclosed.
Built in 1985, the five-story, 111,483-square-foot Class A office building is situated on 3.72 acres near Interstate 5 and State Route 55.
“This sale reflects the ongoing trend we’ve been seeing over the past few years of specific office properties situated on a significant amount of land being reimagined for new uses,” said DeLorenzo, vice chairman at CBRE. “The combination of the irreplaceable location of the property and the mixed-use overlay zoning contributed to strong demand from the residential development community.”…