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1/15/15
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In a recent OC off-market buy, CapRock Partners LLC purchased Canyon Commerce Center, a 158k sf, multi-tenant industrial park in Anaheim. It was acquired from a major, unnamed life insurance firm. The price was not given out.
Located at 5401-5445 East La Palma Ave, Canyon Commerce Center offers near-immediate access to Hwy 90 and the 91 Fwy. The property, which consists of 19 individual units, is currently 90 percent occupied, including a Land Rover/Jaguar dealership that occupies five of the units.
CapRock Partners will perform renovations to the interiors and exterior areas to capture increasing lease rates - and plans to take advantage of the in-place condominium map to eventually sell individual units to owners/users.
“Given the limited inventory of smaller industrial properties for sale in this highly desirable area, we expect the market to continue to show significant appreciation,” said Pat Daniels, Co-founder and COO, CapRock Partners. “Canyon Commerce Center’s trifecta of location, along with product type and CapRock’s reputation for delivering high-quality, high-image assets, will ensure strong appeal for buyers.”
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