Drawbridge Secures 100 KSF Orange County Office Lease

The County of Orange has signed a 99,589-square-foot expansion lease at Drawbridge Realty’s Saint Andrew Place office building in Santa Ana, Calif. CBRE brokered the deal on behalf of the landlord, while JLL represented the tenant.

Combined with its existing 70,462-square-foot space, the new lease expands the county’s presence to the entire building through December 2042.

The lease expansion will be completed in two phases. The first, 59,000-square-foot phase is slated to begin between November 2026 and January 2027. County of Orange Health Care Agency will occupy this space.

While many organizations are re-evaluating footprints amid the evolving future of the office, the county’s lease commitment underscores the stability of public-sector tenancy. Nationally, the office vacancy rate as of September clocked in at 18.6 percent, down 80 basis points year-over-year, with an average price of $32.79 per square foot, according to the latest Yardi Matrix office report.

County of Orange gets comfortable at Saint Andrew

Completed in 1991 at 1700 E. Saint Andrew Place, the office building is a three-story property on a 10-acre site. The low-rise is close to Interstate 5 and California State Route 55, which connect Saint Andrew Place to downtown Los Angeles, some 36 miles northwest.

Drawbridge Realty acquired the office building in May 2016 from Del Mar Partnership, for $37 million, or $215.96 per square foot, according to Yardi Matrix information. Currently, the property is undergoing renovations.

CBRE Executive Vice President Ross Bourne worked on behalf of Drawbridge Realty. JLL Senior Managing Directors Joe Bevan and Wade Clark represented the county.

Year-to-date, Drawbridge has invested upward of $300 million in new acquisitions and more than $20 million in capital upgrades across its national portfolio, a representative for Drawbridge Realty told Commercial Property Executive.

Embree also confirmed that Drawbridge has several leases in progress across Southern California, including some expansions. 

Last month, the company purchased The HIVE, a three-building, 190,000-square-foot office campus in Costa Mesa, Calif., from Invesco Real Estate. The firm then inked a full-property lease at the campus with Anduril Industries.