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
Pacific Industrial Closes $33 Mil OC Industrial Buy

5/15/18

In recent industrial investment news out of Orange County, Pacific Industrial paid $33 mil for a two-building, 157.2k sf ($210/sf) industrial property situated immediately adjacent to John Wayne Airport in Costa Mesa. Pacific Industrial acquired the asset in partnership with a private equity fund advised by Crow Holdings Capital.

The property is located at 3030 & 3080 Airway, just east of Red Hill Ave and the 55 Fwy. One of the property’s buildings is home to the U.S. headquarters of RipCurl, a major Australian designer, manufacturer, and retailer of surfing sportswear. The second building was recently vacated by Karma. The property boasts a parking ratio of 3:1, which is very uncommon in the tightening Orange County market.

The property is well positioned for value creation, according to Dan Floriani, Co-Founder of Pacific Industrial, who points to its direct frontage on the Orange County airport, easy access to several freeways, and location in a highly affluent pocket of the Orange County Airport submarket as factors that made the asset an ideal target for his firm, and for future tenants. The company will make significant interior and exterior upgrades to the vacant building, offering users brand new office space, a new 15-year roof, 24 new HVAC units, and an array of sought-after employee amenities that will appeal to a wide variety of users in the market.

Trent Walker and Carl Johnson with Voit Real Estate Services represented Pacific Industrial as the buyer in the off-market acquisition. Pacific Industrial has also retained Voit as the exclusive leasing agent for the property. The seller was 3030 & 3080 Airway LLC, an entity that had owned the property for approximately three years.






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