COSTA MESA, CA-Buyers have acquired 24 units at the latest Guthrie Development Co. industrial project months before completion is scheduled for the 28 units. Robert Guthrie, president of the locally based firm, says that the 24 units have been sold at Guthrie Lambert Business Center, an eight-building, mixed-use office and industrial project totaling 132,642 sf.
Guthrie comments that, "Despite experts predicting real estate slowdown, all three of our projects have received a slew of interest from small industrial buyers in Orange County." The other two projects are the 15-building, 86,372-sf Guthrie Orange Business Center in Orange and Freeway Crossroads, a 22-building development in Anaheim.
According to Guthrie, the latest deals bring the tally of sales at his company's developments to approximately 65 buildings in less than one year for more than $80 million in North Orange County alone. At the Guthrie Lambert Business Center in Brea, the 28 separate for-sale units range from 3,300 sf to 6,800 sf and are due to be completed in September. The project is located near the intersection of Lambert Road and Berry Street at 275 North Berry St.
At the Guthrie Orange Business Center, the company has sold all of the buildings at the recently developed project. Its 15 freestanding industrial buildings range from 4,400 sf to 7,650 sf. The project, which was completed in November, is located near the intersection of Meats and Glassell avenues in Orange.
At Freeway Crossroads, Guthrie has sold 19 of the 22 buildings, which occupy a seven-acre site and range from 4,290 sf to 25,186 sf. The business park, located near Kramer Boulevard and La Palma Avenue in Anaheim, features freeway frontage and immediate access to the 91 Freeway. It was completed in March.
At Freeway Crossroads, Ben Seybold, Zachary Niles and Sean Ward of CB Richard Ellis represented Guthrie in the sale of all of the buildings. For both of the other two projects, Louis Tomaselli and Mitch Zehner of Voit Commercial Brokerage's Anaheim Metro office represented Guthrie.
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