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SOUTHERN CALIFORNIA NEWS
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Two Leases at Orange County Commerce Center Total 102k sf

2/18/20

We’ve got two industrial leases totaling 101.7k sf of space in OC to report. Both deals were for buildings at Orange County Commerce Center, a Class A industrial development completed in 2019 and owned by a joint venture between Panattoni Development Company Inc and a fund represented by Principal Real Estate Investors.

In one of the deals, moving equipment and storage rental company U-Haul International Inc leased a 53.9k sf warehouse, while in the other transaction, industrial and housing materials manufacturer and distributor LG Hausys America Inc, a division of the globally recognized LG brand, will occupy a 47.8k sf facility.

U-Haul signed a five-year lease of the building located at 1367 S. Van Buren St in Anaheim. The facility includes more than 8.2k sf of two-story executive office space, 2.355 net acres of land, six dock-high loading doors with Z-Guards, one grade-level loading door, and 87 parking stalls.

LG Hausys signed a seven-year lease of the building located at 711 S. Van Buren St in Placentia. The property features 7k sf of two-story executive office, 2.051 net acres of land, five dock-high loading doors, one grade-level loading door, and 69 parking stalls.

Each building features 30’ minimum warehouse clearance height, an 800-amp main switchgear with 2,000-amp UGPS, an ESFR sprinkler system, a fully secured and gated truck court/yard, 100% concrete truck court and auto parking areas, painted interior walls, white scrim foil, painted columns, and 3.0% skylights.

The new tenants join Rakuten Super Logistics and Beacon Roofing Supply at the four-building project, which totals 232k sf and is located on 10 acres on the border of Anaheim and Placentia. The development is situated in close proximity to five major freeways (I-5, State Routes 91, 57, 55, and 241 Toll Road) and the Anaheim Canyon Metrolink System. The project also boasts several corporate neighbors, including The Walt Disney Company, Time Warner Cable, Kaiser Permanente, and PacSun, among others.

Chris Migliori and Paul Gingrich with DAUM Commercial Real Estate Services represented the ownership in these transactions. According to Migliori, Orange County has become one of the tightest industrial markets in the United States due to its prime location near Los Angeles, the Inland Empire, and major ports.

“The full lease-up of this project within months of completion speaks to the successful execution of the developer’s strategy. The modern amenities and superb quality of these facilities meet this high demand for well-located, well-appointed space suited for mid- and large-size industrial users.”





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