ANAHEIM, CA-Industrial buyers have spent more than $18 million on building purchases in a flurry of deals that illustrate why Orange County's industrial vacancy rate stands at a historically low 3.34%. The transactions involved properties here and in four other cities.
In the largest of the deals, Cerritos Street 2005 LP acquired a 42,240-sf building at 1400 Cerritos Ave. in Anaheim from 1400 Cerritos LLC for $4.6 million. Both the buyer and the seller were represented by Michael Hefner of the Anaheim Metro Office of Voit Commercial Brokerage.
In a Fountain Valley transaction, 24/7 Internet Inc. acquired a 20,360-sf building at 17371 Mount Wynne Circle from Gibraltar Investment Properties LLC for $2.8 million. Greg Velastegui of Voit's Irvine office represented the buyer, with Dave Desper of CB Richard Ellis representing the seller.
In Lake Forest, an individual investor bought a 14,961-sf building t 20431 N. Sea Circle for $2.8 million from R.J.M.C. LLC. The buyer was represented by Sam Olmstead of Voit's Irvine office, with the seller represented by Craig Fitterer and Mark Jerue of Lee & Associates.
In an Irvine deal, Urim Church acquired an 8,482-sf building at 18 Goddard from Sea Ridge Community Church for $2.1 million. The buyer was represented by Trent Walker and Todd Hergesell of Voit's Irvine office, with Gary Marquis of Collins Commercial representing the seller.
The remaining four deals included three in Anaheim and one in Orange. Sales prices on those deals ranged from $1 million to $1.9 million.
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