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October 1, 2023
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OC Industrial Trade Closes at $193/sf


In a recent OC industrial comp, Dunleer paid $4.71 mil for a 20-unit, 24.4k sf ($193/sf) property in Santa Ana. The asset is located at 2222 to 2308 W. 2nd St, east of Fairview St and north of 1st St.

Built in 1965, the asset consists of four freestanding adjacent buildings on four separate parcels. It is situated in central Orange County and is proximate to major transportation corridors including the 5, 405, 55, and 22 freeways as well as John Wayne Airport.

According to BJ Turner, Founder of Dunleer, the property is viewed as a value-add opportunity. The company plans to execute a 24-month capital improvement program that will be aimed at attracting top quality tenants.

“We are bullish on Southern California small bay industrial assets as supply for the product type has remained relatively stagnant, while demand continues to increase,” noted Turner. “The users for this type of facility cannot work from home, so there is continued need for the product. Furthermore, there are more and more new use cases emerging from industries such as cannabis, ghost kitchens, creative industrial/office uses, as well as retailers gravitating to more industrial-based models.”

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