Daum Commercial Helps Lease Total 101,663 SF of Class A Industrial Development in Orange County, CA
|DAUM Commercial helps lease 101,663 SF class A industrial development in Orange County, CA to two nationally recognized credit tenants|
ANAHEIM, CA and PLACENTIA, CA – DAUM Commercial Real Estate Services recently completed the leases of two industrial buildings totaling 101,663 square feet of industrial space in Orange County, California on behalf of the lessor, a joint venture formed by Panattoni Development Company, Inc. and a fund represented by Principal Real Estate Investors.
Moving equipment and storage rental company U-Haul International, Inc. will occupy a 53,850 square-foot warehouse, while industrial and housing materials manufacturer and distributor LG Hausys America, Inc., a division of the globally recognized LG brand, will occupy a 47,813 square-foot warehouse.
|U-Haul has leased this 53,850-SF building at 1367 South Van Buren Street in Anaheim, CA|
Both the free-standing buildings are part of Orange County Commerce Center, a Class A industrial development completed in 2019.
The new tenants join Rakuten Super Logistics and Beacon Roofing Supply at the four-building project, which totals 232,000 square feet and is located on 10 acres on the border of Anaheim and Placentia, California, according to DAUM’s Executive Vice President Chris Migliori.
|LG Hausys America Inc., a division of the globally recognized LG brand, will occupy a 47,813 SF building at 711 South Van Buren Street in Placentia, CA|
“Orange County has become one of the tightest industrial markets in the United States due to its prime location near Los Angeles, the Inland Empire, and major ports,” explains Migliori, who arranged the leases along with fellow DAUM Executive Vice President Paul Gingrich.
“The full lease-up of this project within months of completion speaks to the successful execution of the developer’s strategy. The modern amenities and superb quality of these facilities meet this high demand for well-located, well-appointed space suited for mid- and large-size industrial users.”
Migliori notes the caliber of the four nationally recognized credit tenants leasing space at the Orange County Commerce Center demonstrates the project’s strength as one of the best industrial developments the market has to offer.
According to Jacob LeBlanc, Partner at Panattoni: “The Orange County Commerce Center is positioned in an ideal location that not only provides convenient access to several major freeways and the ports of Los Angeles and Long Beach, but is in close proximity to many prominent companies and residential neighborhoods, optimizing the moving service and distribution operations of the new tenants.”
These two most recent leases are a culmination of several years of successful partnership with DAUM Commercial, notes LeBlanc. Migliori and Gingrich helped the developer acquire the land, a former strawberry farm, in 2017, and were the exclusive listing agents.
U-Haul signed a five=year lease of the building located at 1367 S. Van Buren Street in Anaheim and includes more than 8,150 square feet of two-story executive office space, 2.355 net acres of land, six dock-high loading doors with Z-Guards, one grade-level loading door, and 87 parking stalls.
LG Hausys signed a 7-year lease of the building located at 711 S. Van Buren Street in Placentia and includes 6,995 square feet of two-story executive office, 2.051 net acres of land, five dock-high loading doors, one grade-level loading door, and 69 parking stalls.
Each building features 30’ minimum warehouse clearance height, an 800-amp main switchgear with 2,000-amp UGPS, an ESFR sprinkler system, a fully secured and gated truck court/yard, 100% concrete truck court and auto parking areas, painted interior walls, white scrim foil, painted columns, and 3.0% skylights.
The development is situated in close proximity to five major freeways (Interstate 5, State Routes 91, 57, 55, and 241 Toll Road) and the Anaheim Canyon Metrolink System.
The project also boasts several corporate neighbors, including The Walt Disney Company, Time Warner Cable, Kaiser Permanente, and PacSun, among others.