The baseball card business has been a home run for Collectors Holdings, which just completed its third headquarters expansion in Santa Ana.
The company once known as Collectors Universe has leased another 102,000 square feet at the Pacific Center office park at 1600-1610 Saint Andrew Place, the Orange County Business Journal reported.
Terms of the 15-year lease with San Francisco-based Drawbridge Realty, which bought the 490,000-square-foot Pacific Center in 2019 for $98 million, were not disclosed.
It’s among the largest office lease expansions in Orange County this year.
The lease brings Collectors Holdings’ footprint at the business park near the 55 Freeway to 287,000 square feet.
The authenticator of baseball cards and other memorabilia was taken private in February 2021 by an investor group that included Steve Cohen, owner of the New York Mets and NBA Brooklyn Nets star Kevin Durant, who paid $853 million for the company.
In March, they invested another $100 million. The company is now worth $4.3 billion, according to the firm.
Collectors Holdings has grown from $105 million in sales in 2020 to more than $300 million last year, Chief Financial Officer Jason Harinstein told the Business Journal. In its three prior fiscal years, sales had hovered around $40 million.
The company aims to double its workforce from a thousand employees at the end of last year to 2,000 workers.
— Dana Bartholomew
Read more
Commercial
San Francisco
Ex-Drawbridge execs hunt for $50M worth of underperformers
Commercial
Los Angeles
Prologis buys 24-acre office campus in South OC