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5/19/26
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A joint venture between Harbor Associates LLC and Farallon Capital Management has acquired Yorba Linda Commerce Center, a 280k sf, small bay, multi-tenant industrial campus in Yorba Linda, in an off-market transaction valued at $81 mil ($289/sf). The transaction was funded with a new loan for $56.3 mil
Located at 3910 Prospect Ave, just north of Imperial Hwy, the 16.5-acre property is made up of 10 single- and multi-tenant buildings housing 83 units ranging in size from 1.2k sf to 24k sf. Each unit offers office space, clear heights up to 22 feet, ground level doors, ample electrical capacity, LED lighting and updated HVAC systems. Built in 1987, Yorba Linda Commerce Center was 98% leased at closing.
“Yorba Linda Commerce Center is a high-quality project that is truly irreplaceable in this market,” said Rich McEvoy, Principal at Harbor Associates. “The project offers local businesses the opportunity to operate close to home in a pristine work setting, with a thoughtful mix of suite sizes designed to meet current operational needs and still accommodate future growth.”
Small bay industrial remains the strongest segment of the Orange County industrial market. Vacancy for spaces under 24k sf is approximately 2%, with spaces under 10k sf hovering near 1%, according to CBRE. This compares very favorably to the 5.7% vacancy across the broader industrial market, in Orange County, according to CBRE.
While large format warehouse development has surged in recent years, shallow bay industrial supply has expanded only modestly, leaving many markets with aging inventory and limited new construction. CBRE identifies Orange County and Charlotte as the most supply constrained shallow bay markets in the nation, with both regions posting low vacancy rates and some of the highest rents among the markets analyzed. We’re excited about our plans for the asset moving forward,” said Harbor Principal Justin Loiacono.
The seller, a private family that has owned the property for over 30 years, was represented by Gary Martinez of Ashwill Associates. Shaun Moothart, Bob Ybarra and Andrew Post of CBRE represented Harbor in securing the fully funded loan, which was provided by an affiliate of QuadReal Property Group, a global real estate investment, development and operating company, with Brandon Bachner leading the financing on behalf of QuadReal.
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