Office towers sold in Orange County

Buyer plans to convert 110,000 square feet

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Voit Commercial Brokerage arranged the acquisition of two high-rise office buildings totaling 250,000 square feet in Santa Ana, Calif. The value of the transaction was $28 million. Citivest Inc., an Orange County developer, acquired the two buildings from Caribou Industries. At the time of purchase, the first office building totaling 143,456 square feet in nine stories at 1200 North Main in Santa Ana was predominantly leased to the County of Orange, which may expand into additional space within the property. The second office building is 10 stories, totaling 110,000 square feet at 1600 North Broadway, and was 100 percent vacant at closing. Citivest plans to redevelop the North Broadway building into for-sale office condominiums, according to a press statement....