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HUNTINGTON BEACH, CA-California Faucets has sealed up the purchase of a 30,056-sf industrial facility in Huntington Beach, as the decline in the county’s manufacturing activity has begun to ease up. The buyer has paid $2.4 million for the property, which is located at 5231 Argosy.

California Faucets was represented by a CB Richard Ellis team consisting of Bob Goodmanson, Ted Sawyer, Brian DeRevere and Brad Bierbaum. The team also represented the seller, Superior Forge.

A flurry of industrial activity has occurred recently in the county, as the decline in manufacturing activity has lessened from the first quarter to the second quarter. According to a recent report by Chapman University, the manufacturing sector may be headed for a turnaround.

Chapman’s composite index, which is used to measure the manufacturing sector, has increased to 45.8 in the second quarter from 43.7 in the first quarter. The index measures the manufacturing sector in terms of production, new orders, employment, inventories of purchased materials and supplier deliveries.

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