|
3/08/17
|
A 144k sf industrial building in Anaheim was acquired by American Technologies for $16.6 mil, or $115/sf. We’re told this transaction represents the largest industrial sale in the city of Anaheim since 2015.
The property, located at 3360 East La Palma Ave, contains approximately 85k sf of warehouse space and 48.9k sf of office space. American Technologies plans to rehab the facility, last purchased 30 years ago.
The building is located within Anaheim’s Canyon Business Center, a prominent local business corridor. It features major street frontage and is in proximity to the Metrolink train station.
CBRE’s Carol Trapani, Ben Seybold and Sean Ward represented the seller, Doyle Properties LLC. Brad Bierbaum, also with CBRE, repped the buyer, an owner/user. According to Seybold, the buyer needed a corporate headquarters facility and was willing to transition the property from a common manufacturing building to a high-image corporate headquarters facility.
Despite the Orange County industrial market's historically low vacancy and declining available supply, overall market fundamentals remain strong with continued high demand for sale and lease requirements, according to CBRE Econometric Advisors. The lack of development has pushed down availability of quality space, therefore increasing average sale prices for industrial product, with a consistent upward trajectory as evidenced by an 8 percent year-over-year increase at the end of the fourth quarter, setting a new market high.
|
|
Return to the Archive page
|
|
|
|
|