Canyon Commerce Center Changes Hands

ANAHEIM, CA—CapRock Partners LLC, a private commercial real estate investment firm based in Orange County, says it has acquired a premium multi-tenant industrial park here from a major life insurance firm.

Canyon Commerce Center is located at 5401-5445 E. La Palma Ave. in Anaheim the industrial park known as lies at the center of one of Orange County's most sought-after industrial submarkets, with near-immediate access to Imperial Highway (Highway 90) and the 91 Freeway. In total, the property encompasses 157,972 square feet, comprising 19 individual units.

“With our expertise in the Southern California industrial sector, we've been closely tracking the recovery of the small building for-sale market, as well as the constricting vacancy rates for this type of product across the region,” said Jon Pharris, co-founder and director of Acquisitions for CapRock Partners. “The premier location and institutional quality of this asset, as well as the opportunity to realize significant upside, made this a smart investment for CapRock.”

Canyon Commerce Center currently is 90% occupied, including a Land Rover/Jaguar dealership that occupies five of the units. CapRock Partners will leverage its background in development to perform renovations to the interiors and exterior areas to capture increasing lease rates - and plans to take advantage of the in-place condominium map to eventually sell individual units to owners/users.

“Given the limited inventory of smaller industrial properties for sale in this highly desirable area, we expect the market to continue to show significant appreciation,” said Pat Daniels, co-founder and COO, CapRock Partners. “Canyon Commerce Center's trifecta of location, along with product type and CapRock's reputation for delivering high-quality, high-image assets, will ensure strong appeal for buyers.”