Sares-Regis Starts 122,000-SF Industrial Project

The project, which is scheduled for completion in September, consists of three buildings totaling 121,891 square feet. Canyon Point is being built in an area known as "The Canyon," which the city of Anaheim has designated as a center for innovative and advanced technology companies.

Sares-Regis, headquartered in Irvine, has hired Ian Britton and Brad Bierbaum of CB Richard Ellis to exclusively market the buildings for sale or lease. Although 2009 was a tough year for the north Orange County's industrial market, Britton noted that conditions there are improving.

"Tenants and user buyers are back in the market and are looking for ways to become more efficient," Britton said.

The majority of the north county submarket's industrial base was built before 1980, he added, and many of the buildings that are currently available have some functional obsolescence.

CBRE plans to target users who want to stay in north Orange County but require newer buildings with modern features such as 30-foot clear heights, ESFR sprinkler systems and dock-high loading, as well as an enhanced corporate identity. The building sizes―31,744 square feet, 32,554 square feet and 57,593 square feet―have been designed to accommodate local companies that are consolidating multiple facilities or expanding operations.

The Canyon Point site was originally owned by The Boeing Co. and most recently by Pacific Sunwear of California, two of Anaheim's largest employers. The site is located near a newly expanded Metrolink train station and offers immediate freeway access to the 91, 57 & 55 freeways and the 241 toll road.

Besides Canyon Point, other new developments in The Canyon include Kaiser Permanente's 1.3 million-square-foot medical campus, Sares Regis' The Crossing, a high-density residential project with more than 300 units, and Panattoni's 75-acre Anaheim Concourse, the redevelopment of the former Boeing campus.