The 221,253 sf at Valencia Business Center comprises 25buildings ranging from 5,117 sf to 23,816 sf on a site at theintersection of East Valencia Drive and Sally Place, close to theFullerton Amtrak Station. Mike Hefner of the Anaheim Metro officeof Voit Commercial Brokerage says that the Voit team located 11qualified buyers before the completion of construction of theproject, which he describes as "well-located in a mature industrialmarket."

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Prospective buyers are showing continued interest in theproject, with two buildings in escrow and "strong interest in theremaining buildings," according to Hefner. He and Mike Vernick ofVoit Commercial Brokerage's Anaheim Metro office represented theseller, Magellan Group, in each of the 11 sales transactions.Hefner and Vernick also represented two of the 11 total buyers inthe transactions.

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The 11 properties that sold ranged from 7,618 sf to 14,587 sfand closed at prices ranging from $1.5 million to $2.6 million.Eight of the buildings are on Valencia Drive and the other three onSally Place.

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The new industrial buildings at the Valencia Business Center arepart of an Orange County industrial market that has shownresilience despite the economic downturn, according to a recentlyreleased quarterly report by Voit. The second quarter report findsoverall vacancy at 4.36%, approximately 60 basis points higher thanit was one year ago, when vacancy stood at 3.79%, but the vacancyis still at a record low and is still at a very healthy level,according to the Voit report.

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The lowest vacancy rate in the county, 3.68%, can be found inNorth Orange County, the largest submarket in the county with 46%of all the county's industrial buildings.

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