October 15, 2009
Tishman Speyer has sold off 3 MacArthur Place (aka 3 Imperial Promenade) in Santa Ana, California. The buyer is Highridge Partners. The building is a 12-story Class A building totaling about 247,000 rentable square feet. The building sits on about 3 acres and was completed in 1991.
Current occupancy is about 78%. Pricing came in at about $126 psf ($31M), versus the $336 psf ($83M) Tishman paid in 2007.
[via LA Times]
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