DAUM COMMERCIAL COMPLETES SALE OF INDUSTRIAL PROPERTY IN TIGHT ORANGE COUNTY SUBMARKET
DAUM Commercial Real Estate Services has completed the sale of a 25,334 square-foot industrial property on a 1.45-acre lot in the Orange County submarket of Anaheim, California on behalf of the seller, a private real estate investment firm.
Chris Migliori, SIOR, an Executive Vice President at DAUM Commercial, represented the seller and procured the buyer, CA Kitchens Floors & Baths, in the transaction.
“The seller had an extremely well-located Orange County asset and came to us seeking a quick, smooth sale to capitalize on record industrial demand in the current market,” says Migliori, who notes that the North Orange County submarket experienced industrial vacancy rates of 1.22% in Q4 of last year—some of the lowest in the country.
Migliori notes that the buyer plans to occupy the space once the current tenant is fully vacated.
“The property is going to be occupied by a strong family owned and operated tenant that provides over 28 years of general contracting experience. The building will be used for showroom, warehousing and distribution of materials for their remodeling company,” says Migliori. “Further, due to the asset’s freeway-adjacent location and features, including an increasingly in-demand large gated and secured yard, it would be essentially irreplicable in today’s space-constrained market. This positions the property to attract strong interest from a range of users for years to come.”
Migliori adds that the property offers convenient access to freeways including Interstate 5 and State Routes 57, 22, and 91, as well as close proximity to the Port of Long Beach.
Built in 1961, the one-story freestanding building features 2,000 square feet of office space, a ground level door ramp, two dock high doors, 17-foot clearance height, and 400 amps of power.
The property is located at 1340 South Claudina Street in Anaheim, California and was sold for a total consideration of $7.5 million.
About DAUM Commercial
DAUM Commercial Real Estate Services is a leading provider of commercial real estate services including brokerage, tenant representation, consulting, leasing, sales and property management. Founded in 1904, DAUM focuses on longstanding client relationships and draws upon its century-long track record to deliver steadfast insights and proven results to clients across the U.S. DAUM has ten offices throughout Southern California and Arizona. More information is available at www.daumcommercial.com.