Ullrich has tentative plans to build a 150,000-sf concrete tilt-up manufacturing facility on the site, according to Bob Sattler, a Lee & Associates broker who represented Ullrich. Tom Dorman and Bob Goodmanson of CB Richard Ellis represented the seller.
Sattler had been working with the buyer for several years, as the company searched for a parcel suited for a large-scale industrial complex. "There are not very many large parcels of land left (for industrial development)," Sattler says.
Industrial developers continue to vie over the limited number of buildable lots in the county, as the supply of vacant land dwindles while demand soars. Industrial space remains a favorite among investors, as industrial users continue to gobble up space as soon as it is available. The recently completed 202,494-sf Westminster Business Center opened with a 60% occupancy level, as reported earlier this week by GlobeSt.com.
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