LAKE FOREST, CA—Guthrie Development has soldtwo units and has three others in escrow at FoothillBusiness Park, a 59,478-square-footindustrial property at 26429 and 26439 RanchoPkwy. here. The property is designed to accommodate small businessowners, with 25 separate units ranging in size from 1,517 squarefeet to 3,203 square feet, with the opportunity to combine units toaccommodate up to 8,199 square feet.
Rob Guthrie, CEO and founder of GuthrieDevelopment, tells GlobeSt.com, “According toForbes and the SBA, halfof the people in the US work for small businesses, and smallbusinesses since 1995 have created 65% of net new job creation. Weneed to get that section of the economy rolling again forjob growth.”
The spaces sold at Foothill Business Park, which encompass anaggregated 12,287 square feet, were sold within months of takingthe renovated units to market, demonstrating increased interest inowning from small industrial business owners. Guthrie had acquiredthe property for $8 million in November 2013 from PanattoniDevelopment and, over the course of six months, investedmore than $1 million to provide interior enhancements as well as toprocess the entitlements to sell each unit individually.
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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.
