SANTA ANA, CA—Civic Center Professional BuildingInc. has sold a 105,199-square-foot office property at901 Civic Center Dr. here to BW AmericaDevelopment LLC for slightly more than $12 million. Thebuyer is a Chinese-based investment firm.

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The building is a four-story, roughly 105,199-square-footatrium-style building with window-lined offices. It is located inthe heart of Orange County's Civic Center area and is withinwalking distance to the Orange County Court House, CityHall and State and Federal Buildings.

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The property has an adjacent, private four-story parking garage,which is significant in this difficult parking district. It hasconvenient access to the I-5 and SR 22 freeways.

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Tom Nguyen, NAI Capital's EVPin the Orange County office and founding member of NAI Capital'sAsia Pacific Group, represented the seller in thesale. “The listing had some challenges—the biggest one being thatit was only 8.24%-occupied at the time of sale,” Nguyen says. “Ourability to reach out to domestic and foreign markets helped us findthe right buyer for this property. The group that offered the bestprice and terms was a Chinese-based investment firm. They are goingto occupy one floor and lease out the remaining floors.”

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Nguyen tells GlobeSt.com that foreign buyers are winning dealsover domestic buyers in many transactions because of pricing andterms, “but mostly pricing. If the product is right, the foreignbuyer will pay higher than their domestic counterpart. They'reflush with cash and less picky in terms of local marketchallenges.”

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Foreign buyers are having a major influence on the US realestate market. As GlobeSt.com also reported today, First American TitleInsurance Co. has launched a comprehensive multilingualwebsite and in-language video library to help multiculturalconsumers pursue homeownership and navigate thetitle and closing process in the US. The firm developed the websiteand video library in response to growing demand from multiculturaland international communities.

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Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.