DAUM Commercial Arranges 2 Industrial Leases in Orange County
Executive Vice Presidents Chris Migliori and Paul Gingrich acted on behalf of the owners of a roughly 230,000-square-foot commerce center.
Panattoni Development Co. and Principal Real Estate Investors have inked two leases totaling 101,663 square feet with U-Haul International Inc. and LG Hausys America Inc., with each company occupying a free-standing building. The new tenants will join Rakuten Super Logistics and Beacon Roofing Supply at the partnership’s 232,000-square-foot Orange County Commerce Center in California, at the border between Anaheim and Placentia.
Executive Vice Presidents Chris Migliori and Paul Gingrich from DAUM Commercial Real Estate Services represented the owners in the deal. The brokerage company was appointed as the leasing agent of the property when the project broke ground in 2018.
U-Haul signed a five-year lease at the 53,850-square-foot building situated at 1367 S. Van Buren St. in Anaheim. The construction comprises more than 8,150 square feet of office space, 2.4 acres of land, six dock-high loading doors, a grade-level loading door and 87 parking stalls.
The 47,813-square-foot building located at 711 S. Van Buren St. in Placentia will house LG Hausys for the next seven years. The construction provides 6,995 square feet of office space, 2.1 acres of land, five dock-high loading doors, a grade-level loading door, as well as 69 parking stalls.
Yardi Matrix data shows that Orange County Commerce Center encompasses two additional buildings: a 69,882-square-foot one at 711 S. Van Buren St. occupied by a roofing distributor and a 60,809-square-foot facility at 1367 S. Van Buren St. Each structure features 30-foot minimum warehouse clearance height, an 800-amp main switchgear with 2,000-amp UGPS, an ESFR sprinkler system, a fully secured and gated truck courtyard, 100 percent concrete truck court and auto parking areas, as well as 3 percent skylights.
According to Gingrich, Orange County is one of the tightest industrial markets in the U.S. because of its proximity to metros such as Los Angeles and the Inland Empire as well as major ports.