IRVINE, CA—Demand for industrial propertiesfrom would-be buyers in several size categories is fuelingall-cash, multiple offers for space in South Orange County,particularly for off-market deals, CBRE brokerBrian Cole tells GlobeSt.com. Cole recently closeda spate of industrial acquisitions in thissubmarket that fit this description.
As GlobeSt.com reported earlier this week, Cole representedthe buyer in each of three South Orange County sales transactionsthat reflect the current, highly competitive environment wheremultiple offers and all-cash buyers are becoming the norm:33033 Camino Capistrano in San Juan Capistrano,24799 Alicia Pkwy. in Laguna Hills and27002 Vista Terrace in Lake Forest. Thelatter two transactions were off-market transactions.
Cole says there is true demand in the market for properties inthe 10,000- to 50,000-square-foot range, since so few areavailable. “In South Orange County, there are two buildingsavailable for sale in this size range. From an industrialstandpoint, that's crazy low.”
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
