The buyer paid $8 million for the 59,876-sf property, which is at 14271 Corporate Dr., according to Mike Hartel, an industrial division broker in Voit Commercial Brokerage's Irvine office. Hartel notes that the building is divisible with separate office entrances and includes a two-story office comprising approximately 17,500 sf. He adds that it offers excellent access to the 22 freeway.

"The proximity of the 22 freeway and the upgraded electrical service make this property ideally suited to manufacturing," Hartel says.With Garden Grove's booming industrial sector, the building is situated in an ideal location, he adds.

Hartel, along with Mike Bouma and Trevor Pavone of Voit's Anaheim Metro office, represented the seller, KIFLP LLC. The buyer was represented by Brad Christian of Colliers International's Irvine office.

[IMGCAP(2)]In the other transaction, Jones Lang LaSalle reports that Glen Allen, VA-based MeadWestvaco (MWV), a global leader in packaging, selected CR&R Waste and Recycling Services of Stanton, CA out of 15 bids as buyer for 7571 Lampson Ave., a 227,000-square-foot industrial property. "Even in this tight real estate market, we were able to find an owner/occupier, all-cash buyer unaffected by deterioration in the capital markets," comments Sam Foster, Downtown Los Angeles-based executive vice president with Jones Lang LaSalle's industrial services team.

Located in the Garden Grove Industrial Complex off of the 22 Freeway, the property is minutes to the 405 and 605 freeways. Foster and Chris Brandt, also based in the Downtown L.A. office of JLL, represented the seller.