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7/11/24
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A 3k sf industrial building located at 123 Monte Vista Ave in Costa Mesa sold for $3.2 mil, or $1,054/sf. The unnamed buyer plans to utilize the property for personal purposes.
Stefan Rogers with Voit Real Estate Services represented the seller, an exotic car dealer. The buyer, a private individual, was repped by Matt Fryer of Lee & Associates.
Rogers tells us that the unique property commanded such a high price due to the increasing demand for versatile small industrial buildings, particularly freestanding, secure properties with yards in mixed/use locations. This was the highest price per square foot for a non-redevelopment sale of an industrial building in Orange County in recent years, according to Rogers.
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