Limousine Maker Grabs 45,000-SF Industrial Building

SANTA ANA, CA-The demand for industrial space in Orange County has turned what was going to be a speculative industrial condominium project for Voit Development Co. into a build-to-suit redevelopment. Coastal Coachworks, a manufacturer of limousines, wants all the space provided by a 45,000-sf building on three acres at 2100-2120 Susan St.Coastal has acquired the Susan Street property from Woodland Hills-based Voit, which will now redevelop the property into a build-to-suit for the limo maker, explains James Camp, SVP of acquisition and development for Voit Development. Voit's original plan called for the property to be turned into five condominiums for small owner-users, and Voit had even processed entitlements with the City of Santa Ana that provided approval to subdivide the 45,000-sf building before Coastal acquired it. The limo company bought the building in a deal brokered by Jeff Mitchell and Greg Velastegui of the Irvine office of Voit Commercial, who represented both the buyer and the seller.The redeveloped Susan Street building will serve as Coastal Coachworks' site to store raw materials and as a headquarters for the company's executives. Redevelopment of the property, which will free space in the existing Coastal Coachworks facility in Fountain Valley, is expected to be completed by the end of the year. Camp notes that one of the attractions of the building for the new owner was that the property is within the Santa Ana Enterprise Zone, which includes more than 7,000 acres of industrial and commercial land.