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3/21/24
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A 1.78-acre industrial outdoor site with five pre-existing storage buildings in the City of Orange was purchased by an auto dealership, McPeek’s Chrysler Dodge Jeep of Anaheim, in an $8.6 mil transaction. The property is located at 760 Batavia St, north of Hwy 22 between the 55 and 57 freeways.
The McPeek sales showroom is less than two miles north of the site. McPeek needed the extra outdoor space for additional service facilities and fleet storage for their growing auto dealership and servicing business. The fenced site has ingress and egress via Batavia St and optimal freeway access. The property is zoned M2 Industrial, has utilities to site and is partially paved.
Mike Barreiro, Dennis Holt, and Devin Ray of DAUM Commercial represented the seller, a private family trust. The buyer was repped by Mitch Wright of Bob Wright Industrial Property.
According to DAUM Research, the North Orange County market continues to lead to overall Orange County market in most measures. In Q4 2023, total industrial vacancies in the area were slightly below 2.5% compared to 3.1% for Orange County overall. Deal volume for property sales for Orange County was around $507 mil for the last quarter of 2023, and over $180 mil was in the Northern part of the county. The industrial outdoor storage segment is a substantially smaller portion of the overall industrial market, but it has mirrored the trends in the broader market.
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