Santa Ana, Calif. — Avison Young has arranged the sale of the Pacific Building, an historic 16,274-square-foot mixed-use property located in the Artist Village District of Santa Ana for $5.3 million.
Dan Vittone and Alan Pekarcik of Avison Young, along with Gil Marrero of Voit Real Estate Services, represented the seller, Gumm Investments. Red Rock Capital Advisors LLC represented the buyer, Red Rock Management. The property is 100 percent leased to 11 tenants including Chapter One, a metropolitan-style restaurant and bar, Downtown Sugar, a spa, and The Copper Door, a nightclub. The transaction closed at a capitalization rate of 6 percent