The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 29, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



ORANGE COUNTY NEWS
Printer-friendly Version   Email an Associate
OC Industrial Portfolio Trades in $23 Mil Transaction

5/14/18

Duke Realty acquired Northpoint Commerce Industrial Park Portfolio, a two-building, 119.4k sf industrial portfolio in Fullerton, for $22.8 mil ($191/sf). The Class A properties were sold by a private seller that was advised by MidPacific Asset Advisors.

Boasting an A+ location, the properties consist of the two buildings at 500 and 700 Burning Tree Rd, situated on nearly 7.5 acres within the 47-acre master-planned Northpoint Commerce Center in North Orange County.

500 Burning Tree Road consists of a high-quality, single-story warehouse-distribution building with partial two-story office space, totaling 61.7k sf on 4.55 acres. 700 Burning Tree Rd consists of a single-story state of the art warehouse-distribution building totaling 57.7k sf on 2.87 acres.

The properties are strategically located in North Orange County and provide direct access to all major freeways via the I-5 and SR-91, both less than three miles away. Also, the Ports of Long Beach and Los Angeles, the largest port complex in North America, is situated only 25 minutes to the west of the properties.

Jeff Chiate, Rick Ellison, Mike Adey, Jeffrey Cole, and Ed Hernandez of Cushman & Wakefield’s Capital Markets services in Orange County represented the seller in the transaction. Randy Ellison, also with C&W’s local office, provided market advisory.

“The portfolio boasts one of the top logistical locations in Southern California, bordering Los Angeles and Orange counties, ideal for last mile e-commerce distribution,” said Chiate. “The buildings are 100% leased to two exceptional tenants, Iron Mountain and Sunrise Produce, which each have several years of term remaining on their respective facilities. Iron Mountain has occupied their facility since it was built in 1991 and owns the adjacent building, both of which are indicative of their commitment to Northpoint Commerce Center. While Sunrise Produce signed a long term deal in 2015 and has invested significant capital into the building.”

According to latest market research from Cushman & Wakefield, the Fullerton industrial submarket reported a vacancy of just 0.8% in the first quarter of 2018, one of the lowest levels countywide. The submarket was also the strongest occupancy growth area in the county to start 2018 with 166k sf of net absorption in the first quarter.






Return to the Archive page


 


 
 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media