By: Bianca Barragán, Southern California for BisNow
The owners of Griffin Towers, a two-building office project in Santa Ana that sold in April, have signed a lease at the property.
Optima Tax Relief signed a 40-month lease of approximately 38K SF and will move in later this year.
“The property is well-located, and we’re excited for Optima to enjoy everything Griffin Towers offers,” Barker Pacific Group Managing Director Michael Barker said in a news release. “We are encouraged to have this new leasing activity at the project and it bodes well for companies returning to office after the pandemic.”
A partnership between Barker Pacific Group and Kingsbarn Realty Capital bought the towers in April. The seller, a Blackstone entity, sold at a $47M loss.
The roughly 560K SF property was 68% leased when it changed hands in April, according to representatives for the previous owner. It is unclear whether other tenants were added to the roster before Optima Tax Relief, but on its own, the Optima lease could boost overall occupancy at the towers to about 75%.
