(To read more on the industrial market, click here.)
SAN JUAN CAPISTRANO, CA-Centra Realty Corp. of Irvine hasacquired 18.75 acres for $20 million in preparation for a241,000-sf R&D project called Ventanas Business Center,according to Grubb & Ellis. The development site for theproject, which will be the first new industrial R&D space builtin the city in years, is adjacent to the Interstate 5 Freeway andCalle Arroyo.
Keith Ross, principal of Centra Realty Corp., comments that,"there has been virtually no new industrial/R&D product builtin San Juan Capistrano in the last decade," despite growing demand.The vacancy rate for such space is below 2%, Ross notes.
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