ORANGE, CALIF. – In a transaction that underscores the impact of Orange County’s most exciting development project, Red Hot Properties is pleased to announce the $3.8 million sale of Danny K’s Billiards and Sports Bar located several blocks from the $4 billion, 95-acre, mixed-use OCVibe site by the Honda Center.
Sporting 19 pool tables, Danny K’s is a long-time destination for billiards enthusiasts throughout Southern California who visit the City of Orange for tournaments, events or just a fun night out. With 41 televisions and eight 14-foot HD screens, the thriving sports bar also boasts a full kitchen and more than 30 beers on tap.
With the exception of some possible menu additions, no changes are planned for Danny K’s moving forward under the new ownership, said Siavosh “Sam” Ardalan, Certified Business Broker and Owner of Red Hot Properties, who represented both parties on the deal which closed in December.
“This is a wonderful deal for the buyer and seller, alike,” Ardalan said. “Even though Covid impacted the business in 2020 and 2021, now we’re seeing a huge return to value for assets that are positioned well as segments of the economy roar back.”
He added that hospitality and experiential real estate are some of the most popular sectors within commercial real estate.
“People are anxious to return to their lives,” Ardalan said. “There’s pent-up demand to go out and be social, but there’s also pent-up demand for investors to get in on exciting opportunities with enormous upsides – and that’s what we have with Danny K’s.”
The 10,080-square-foot freestanding building sits on the 38,000-square-foot corner of Main Street and Struck Avenue. It is a short walk across the Santa Ana River to the Honda Center, where the Samueli Family, the owner of the Anaheim Ducks and the longtime manager of Honda Center, recently secured approval from the city of Anaheim to move forward on OCVibe, which will include the following:
- A sustainable community emphasizing walkability, health and wellness
- A new 5,700-capacity concert venue
- 1.1+ million square feet of office space, including a new 325,000-square foot office tower
- 1,500 residential units, including a commitment of 15 percent affordable housing units
- 20 acres of public space including four unique plazas
- 10 acres of publicly accessible parks including a 4-acre wellness park and a 5-acre riverfront park
- 30+ restaurant concepts, including a food hall with diverse offerings and multiple standalone restaurants
- Two hotels, consisting of 550 rooms total, thematically aligned with the energy of the district
- 8,000+ parking spaces among several structures, new roads and increased capacity to enhance ingress/egress
- More than 10,000 new construction jobs and more than 3,000 permanent jobs upon completion
“The breadth of this wonderful project will spur economic activity and opportunity into the neighboring communities, especially along the Katella corridor in Orange where you’re seeing new investments like the purchase of Danny K’s,” Ardalan said. “This is a very exciting time for the region.”
Developers are expected to break ground this year and have some phases ready for the Olympics in 2028 when the Honda Center will host women’s volleyball competitions.
The buyer and seller of Danny K’s has not been disclosed.
About Red Hot Properties: Based in Tustin, Calif., Red Hot Properties is a brokerage of businesses and commercial real estate properties. It is owned by industry veteran Siavosh “Sam” Ardalan, one of only six certified business brokers in Orange County.
Having owned several successful companies himself, Sam has a unique perspective that is valuable to buyers and sellers of all types of enterprises. Since 1991, he has served the community with integrity and professionalism. His clients are lifelong. He is an expert negotiator and problem solver – many transactions have been saved with his creative solutions.
Additionally, Ardalan is a member of the California Association of Business Brokers; National Association of Realtors; and International Business Brokers Association.
