Asset Management Purchases Wells Fargo Tower in Santa Ana

The Wells Fargo tower, a 12-story landmark in Santa Ana that’s known for its time and temperature display, has been sold to Costa Mesa-based Asset Management Consultants for $9.2 million, a brokerage firm said Friday. The building, purchased from Moss and Co. of Santa Monica, is 85% occupied and includes Wells Fargo and Bankers Mortgage as tenants. Asset Management is planning a $1-million renovation that includes a redesigned lobby, upgraded elevators and a remodeled exterior, said Rob Mitchell, vice president of Voit Commercial Brokerage, who handled the deal with Alan Pekarcik of the same office. In addition, Mitchell said, the new owners will receive $7.8 million in tax credits from Santa Ana if a 200-room hotel with banquet and convention facilities is developed on a two-acre parking lot next to the tower at 2700 N. Main St., near MainPlace/Santa Ana. Asset Management representatives could not be reached for comment.