In Orange County, industrial tenants aren’t the only players struggling to find deals. With a 1.5% vacancy rate, according to CBRE, owners aren’t willing to let go of their properties, making it challenging for investors to break into the market. Pacific Industrial, however, has built a strong portfolio of industrial properties in Orange County, despite the tight market. The investor’s latest acquisition is a 157,204-square-foot, two-building property adjacent to John Wayne Airport in Costa Mesa, which was purchased for $33 million in an off-market deal. We sat down with Dan Floriani, co-founder of Pacific Industrial, and Trent Walker, an EVP at Voit Real Estate services and Pacific Industrial’s broker, to talk about how investors are finding opportunities, winning opportunities and where the industrial market in Orange County is heading. Why were you attracted to this investment opportunity?

Dan Floriani: Our company’s approach to ownership is always long-term, so the key to our investments is their irreplaceability. This property is exceptionally well located in a pocket of Orange County that attracts a very high caliber of companies and employees alike. We recognized immediately that there was an opportunity for true value creation and long-term growth, making this acquisition perfectly aligned with our ongoing strategy.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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