SANTA ANA, CA-Citivest Inc. has acquired two office buildings totaling 250,000 sf for $28 million and plans to convert one of them into office condominiums, targeting the owner-user market, according to Voit Commercial Brokerage. Orange County-based Citivest’s new assets, both in Downtown Santa Ana, are at 1200 N. Main St. and 1600 N. Broadway.

According to Gil Marrero of the Irvine office of Voit Commercial Brokerage, the buildings appealed to Citivest for a number of reasons, including the significant redevelopment under way in Downtown Santa Ana, which has created a demand for office space there. More companies are relocating to Santa Ana as it has evolved into a “major hub for culture, business and entertainment,” says Marrero, who represented Citivest along with fellow Voit brokers Al Pekarcik and Dan Vittone.

The 1200 N. Main St. building totals 143,456 sf in nine stories and is predominantly leased to the County of Orange, which may expand into additional space within the property. The 1600 N. Broadway building is 10 stories, totaling 110,000 sf, and is vacant.

Jim Nichols, a partner in Citivest, says the company sees potential in redeveloping the 1600 N. Broadway building to target businesses in Central Orange County that are seeking “prime office space.” Citivest has experience in developing and rehabilitating retail, residential and office space.

Citivest acquired the two buildings from Caribou Industries, which was also represented by Marrero, Pekarcik and Vittone. Caribou is headed by Mike Harrah, who has been a major player in the redevelopment of Santa Ana.

Santa Ana is the largest submarket within the Central Orange County office market, according to the latest quarterly survey from Voit. It lists the Santa Ana market with 174 of the 371 buildings in the central county market, with those 174 buildings comprising more than 12 million sf. The county’s entire office market totals almost 100 million sf.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.