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May 28, 2020
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New Industrial Facility in North OC Sells for $180/sf


Brad Rambo and Associates paid $32.5 mil for a new, 181k sf ($180/sf) industrial building in Fullerton. The property was sold by Western Realco.

Built in 2017, the Class A building is located at 4150 West Palm St, east of Harbor Blvd and north of Imperial Hwy. The free-standing warehouse features a two-story office, 32’ minimum clearance, ESFR sprinkler system and a large, fenced truck court.

CBRE’s Sean Ward, Ben Seybold, and Keith Greer represented the seller in the transaction. The buyer was repped by Casey Mungo of Daum Commercial.

“Western Realco developed this state-of-the-art property on a speculative basis after purchasing the site from LBA and razing a vacant 88k sf office building. They were confident in the high demand for industrial space in the region,” said Ward. “This user-buyer approached us with a strong offer to purchase at a record-high comp for this type of transaction.”

North Orange County is one of the strongest and tightest industrial markets in the country, in part due to its proximity to the ports of Long Beach and Los Angeles. The area is a mature, fully developed, land-scarce market with few large-scale development opportunities, all of which contribute to tight inventories and one of the lowest vacancy rates in the United States at 1.3%, according to CBRE research.

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