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1/25/10
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A 167.2k sf industrial property in Buena Park was acquired by a private investor for $16.9 mil ($101/sf). Built in 2003, the property is located at 6545 Caballero Blvd, south of Artesia Blvd and east of Valley View St.
The freestanding building is located in the Commerce Centre at Buena Park, near the intersection of the Artesia/Riverside (91) Fwy and I-5. Situated on approximately 7.1 acres of land, the property includes 30-foot warehouse clearance, dock-high and ground level loading and ESFR sprinklers, as well as a 20k sf two-story office area. While the property was 100 percent leased at the time of sale, the buyer anticipates taking occupancy of the property in summer 2010.
Jay Jasaitis of LAREM, in conjunction with Jan Middelburg, an independent broker, represented the buyer, BP Westport Properties, which assumed the existing debt on the property and paid cash for the balance of the purchase price. Jeff Read and Greg Osborne of Grubb & Ellis repped the seller in the deal.
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