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2/02/23
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Manhattan West Real Estate has acquired Talbert-Mount Washington Industrial Park, a two-building multi-tenant industrial asset totaling 59.8k sf in Fountain Valley, for $16.5 mil ($276/sf). The property, situated on 2.9 acres, consists of a 28.8k sf building at 18071 MT Washington St and a 31k sf building at 11190-11240 Talbert Ave.
Talbert-Mount Washington Industrial Park is fully occupied by six quality tenants including OC Art & Home, Harwood Galleria, The Drawer Shop, and RADCO, a twining company. Both freestanding buildings are two-stories and feature large outdoor storage yards, 18’ to 23’ clear heights, fire protection, oversized ground-level doors, and HVAC. The property also includes 113 parking spaces.
The property features a unique location that is proximate to residential and commercial density which keeps the property busy throughout the day and well into the evening. Additionally, it is adjacent to The Shoppes at Costco Plaza, one of Fountain Valley’s largest shopping centers, and provides excellent access to the 405 and 55 freeways and SR-73.
"This asset’s diversified tenant mix from a use perspective, and staggered lease expirations provide Manhattan West with the opportunity to capitalize on a mark-to-market investment strategy in a supply-constrained Orange County industrial submarket,” said Grant Fisher, vice president of real estate acquisitions at Manhattan West.
Manhattan West was represented by Joseph Harmon and Charles Johnson of Daum Commercial Real Estate Services. The seller, DDK Investments Ltd, who has owned the property for several decades, was repped by Devin Ray and Mike Barreiro, also with Daum Commercial Real Estate Services.
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