Orange County Commerce Center Completes Lease-Up
Panattoni Development Company, Inc. and Principal Real Estate Investors have signed two tenants to long-term leases for more than 101,000 square feet in total in two buildings at the joint venture’s Orange County Commerce Center. The Commerce Center is a 232,000-square-foot, four building warehouse property straddling the borders of Placentia, CA and Anaheim, CA in the North Orange County submarket.
U-Haul International, Inc. will occupy a 53,850 square-foot warehouse at 1367 S. Van Buren St. in Anaheim, and LG Hausys America, Inc. will occupy a 47,813 square-foot warehouse 711 S. Van Buren St. in Placentia. Lease terms were for five and seven years, respectively. The new tenants join Rakuten Super Logistics and Beacon Roofing Supply as the center’s four sole tenants.
Daum Commercial’s Chris Migliori and Paul Gingrich represented the joint venture in the transactions. According to Migliori, “The full lease-up of this project within months of completion speaks to the successful execution of the developer’s strategy.”