O.C. office project purchased by joint venture

Triple Net Properties LLC represented NNN 2003 Value Fund LLC and private investors in the purchase of a 104,000-square-foot office building in Santa Ana, Calif.

The value of the transaction was not disclosed.

The property, located at 901 Civic Center Drive, is a four-story, atrium-style building built in 1986. The Orange County asset has a four-level parking garage with two gated automobile entrances. Also, there are pedestrian bridges from the upper levels of the parking garage that provide direct access to the office building.

At the time of sale, the property was 67 percent leased, with major tenants including the Federal Bureau of Investigation and Qualify America Inc.

NNN 2003 Value Fund and private investors purchased 96.9 percent and 3.1 percent respective interests in the property from Santa Ana Arts IV Inc.

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