Buyers Are Into Downtown Santa Ana. Here's Why.
As Downtown Santa Ana grows into a walkable restaurant and entertainment nexus, the commercial real estate opportunities are growing.
Recently, Gumm Investments sold the historic 16k SF Pacific Building in Downtown Santa Ana. Avison Young principals Dan Vittone and Alan Pekarcik, along with Voit Real Estate Services' Gil Marrero, repped Gumm. Alan tells us the buyer liked the renaissance of the area; it's now home to a mix of artists and theatrical productions, along with one-of-a-kind shops, restaurants and high-density residential properties. It's also got a Walk Score of 93 ("Walker's Paradise").
The Pacific Building, on the City of Santa Ana Register of Historical Properties, is at 225-227 N Broadway and 214, 216 & 220 W Third Street. The property is fully occupied by 11 tenants, including Chapter One (restaurant and bar), Downtown Sugar (spa, beauty and personal care boutique) and the Copper Door (a nightclub). We would've guessed a bank, bakery and door salesman—shows what we know. The buyer, Red Rock Management, was repped by Red Rock Capital Advisors.
