ORANGE, CA-Paper Mart, a fourth-generation family business that sells a wide range of packaging supplies, has acquired a 246,732-square-foot building at 2164 N. Batavia St. that serves as the company's headquarters and warehouse, according to Grubb & Ellis Co. brokers who negotiated the sale. Frick Family Properties LLC, doing business as Paper Mart, purchased the property for $22.2 million.

Paper Mart bought the property from PPF Orchard Industrial, which was represented by executive vice president Jeff Read and vice president Greg Osborne of Grubb & Ellis. Read notes that the transaction "is among multiple sizeable owner/user sales that have closed in the Orange County area in the last several months, providing good indication of overall improvement in the industrial market," said Read.

Over the past 12 months, Read and Osborne have been involved in several of the largest industrial transactions in Orange County, totaling roughly 810,000 square feet with a total consideration value of approximately $60 million.  These transactions include the $16.9 million sale of a corporate headquarters/distribution building in Buena Park and the $12.3 million sale of a 15-acre manufacturing site in Fullerton.

Paper Mart's building is situated on roughly 10.7 acres in the North Orange County submarket. The building includes nearly 36,000 square feet of class A office space, as well as approximately 210,000 square feet of warehouse/distribution space. Frick Family Properties was represented in the sale by Brian Bennett of Cresa Partners.