SANTA ANA, CA—Hines, working with a fund managed by Oaktree Capital Management, has acquired 1750 East Fourth Street, a 229,989-square-foot, class A office building here. Financials on the sale and lease back with State Compensation Insurance Fund were not disclosed. State Compensation was represented in the transaction by Rob Bickel, Patrick Inglis and Thomas Maloney of JLL.

Completed in 1994 the building is on 2.8 acres, with immediate access to the 5 and 55 Freeways, the eight-story building is located within the Orange County submarket and has convenient access to the major the Los Angeles, Orange County and Inland Empire employment hubs. State Compensation Insurance Fund will lease back approximately 50% of the square footage via a long term lease. The remaining 50% of the square footage is available to lease immediately.

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