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2/04/20
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A 38.2k sf industrial building in Garden Grove sold for $7.5 mil, or $196/sf. The property is located at 12570 Industry St, west of Beach Blvd and north of the 22 Fwy.
The buyer will use a portion of this property for the expansion of their Garden Grove-based business, Teacher Created Resources. The remaining portion will continue to be leased to local tenants.
Mike Bouma and Paul Caputo with Voit Real Estate Services represented the buyer, The Smith Family Trust. The seller, First GEM Properties LLC, was repped by Chris Migliori and Paul Gingrich of DAUM Commercial Real Estate Services.
“The property will meet our current expansion needs, while providing an excellent source of rental income from the existing tenants, and potential future expansion as our business continues to grow,” noted Darin Smith, CEO at Teacher Created Resources.
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