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Big Box Retail Site Rings Up $15.7 Mil

SANTA ANA, CA-California-based Waco Corp. submits the winning bid for the 155,245-sf property. Home Depot occupies 131,848 sf, while Staples leases the other 23,397 sf.

By Erin Cassin | Updated on October 16, 2001

SANTA ANA, CA-A big box retail site has been bagged by a California investor for $15.7 million. Completed in the first quarter of 2001, the 155,245-sf Santa Ana property is occupied by two different tenants, Home Depot and Staples.

Home Depot occupies 131,848 sf at the 1750 E. Edinger address. The home improvement retailer holds a 30-year lease at the property, which stands on an 11.7-acre parcel. “This lease will provide a 30-year income stream from a tenant with S&P rated A+ credit,” says Ted Gibbons, president of Investment Realty Advisors, who brokered the transaction. “It’s like buying a bond.”

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