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12/28/18
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A 14.2k sf manufacturing facility in Orange sold for $3.15 mil, or $223/sf. The property is located at 1591 N Main St, within the North Orange County Industrial submarket.
Built in 1987, the two-story manufacturing facility features heavy power with 800 Amps, 277/480 Volts, 20’ clear height, five ground-level loading doors, five restrooms and approximately 4.2k sf of two-story office space. The building is situated on a 30.5k sf lot in a high-image area of Maingate Business Center.
The project was occupied by Heritage Carbide Inc at the time of the sale. The new owner plans to hold the property as an investment.
David Knowlton, SIOR, CCIM, with NAI Capital represented the seller, Ronnie Carroll Tipton & Paula Hazel Tipton. The buyer was The Barkhozia Family Trust.
Knowlton commented, “This property presented a unique opportunity for my client to sell in a very favorable market. With a chronically short supply of industrial product in the region, demand remains strong for investors interested in a long-term hold.”
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