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December 5, 2019
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OC Biz Park Trades in $21 Mil Deal

11/26/19

Anaheim Hills Business Center, a 154.6k sf, industrial and office business park in Anaheim, was acquired by Hamra Properties for $21.3 mil ($138/sf).

Built in 1988, the five-building campus located at 5100-5150 E. La Palma Ave, north of the 91 Fwy and west of the 90 Fwy. It features grade level doors, attractive landscaping with palm trees, and abundant parking at a ratio of 3.0 stalls per 1,000 sf. The buildings range in size from 19k sf to 49k sf and accommodate tenants from 700 sf as they grow and expand within the park.

Anaheim Hills Business Center encompasses over six acres and is situated approximately one mile east of the 91/55 Freeway interchange in the highly-desirable Anaheim Canyon area, a vibrant business-friendly area of commercial, industrial, and urban uses. The property is currently 83% leased to a diverse group of tenants in industries such as construction, engineering, design, advertising, insurance, healthcare, equipment, consulting, and management.

Jeffrey Cole, Jeff Chiate, Ed Hernandez, Mike Adey, and Nico Napolitano with Cushman & Wakefield represented the seller, Seligman Group. C&W’s Rick Ellison and Randy Ellison served as market advisors.

“This was an opportunity to acquire a well-located, multi-tenant business park with stable cash flow as well as lease-up and rental rate upside in North Orange County, one of the strongest industrial markets in the nation,” said Cole.

Market fundamentals remain strong in the Anaheim industrial market with a vacancy rate of 0.9% as of third quarter 2019, according to Cushman & Wakefield Research. The sale of Anaheim Hills Business Center ranks as the second largest industrial transaction so far in fourth quarter 2019.





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