Industrial Outdoor Storage Site Sells to Car Dealer

DAUM Commercial Real Estate Services completed the sale of a 1.78-acre industrial outdoor site with five pre-existing storage buildings in Orange. The sale price was $8.6 million.

Mike Barreiro, Dennis Holt and Devin Ray of DAUM Commercial represented the seller, a private family trust. The buyer was represented by Mitch Wright of Bob Wright Industrial Property.

Located at 760 Batavia St., the property is well suited for its new owner, McPeek’s Chrysler Dodge Jeep of Anaheim. The McPeek sales showroom is less than two miles north of the site. McPeek needed the extra outdoor space for additional service facilities and fleet storage.

“The industrial outdoor market in Orange County is driven by extremely short supply, particularly for well-located sites within five miles of most of the county’s population,” said Barreiro. “This factored heavily into the success of this transaction, helping our client hit the highwater mark of $110 per square foot, based on the property’s total acreage, for North Orange County sales. Only one other industrial site transaction in the same market crossed the $100 per square foot mark in the past 12 months.”