Brad Bierbaum of the Anaheim office of CB Richard Ellis, who represented the seller, tells GlobeSt.com that the building was only on the market a few weeks, a sign of the strong investor demand for leased industrial buildings.
Besides Bierbaum, other members of the CB Richard Ellis team representing the seller were Brian DeRevere, Bob Goodmanson, Ian Britton and Sue Engelhardt, all of the CBRE Anaheim office. The buyer, who was in a 1031 exchange and who acquired the building as a leased investment, was represented by John McKeown of the Seal Beach office of Coldwell Banker Commercial.
The property, which is at 1044 E. Fourth St., was 100% occupied at the time of the sale. It is a single-tenant, single-story, concrete tilt-up building with approximately 5,000 sf of mezzanine office space. The seller had owned the freestanding building for about five years.
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