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12/28/22
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A 22k sf industrial building in Garden Grove traded hands at a price of $8.83 mil ($401/sf). The property is located at 13831 Seaboard Circle, west of Harbor Blvd and just south of the 22 Fwy. Built in 1978, the highly functional building features dock-high doors and a large, fenced yard.
Michael Collins and Dustin Hullinger with DAUM Commercial represented the buyer, a private high-net-worth investor based in Orange County. Mike Barreiro and Devin Ray, also with DAUM, repped the seller, INH, a cosmetics distributor.
According to a DAUM report, direct vacancy in Orange County’s industrial market remained at a low 2.0% for the third consecutive quarter with net absorption turning positive and rental rates rising in Q3 2022. The median sales price per square foot for Orange County industrial assets increased 5.3% during the quarter, demonstrating investors’ continuing desire for industrial properties in this market.
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