BUENA PARK, CA-A Buena Park industrial building has been snapped up by a corrugated carton manufacturer in a transaction valued at $3 million.

The company, American Box, will be the sole occupant of the facility. Encompassing 42,500 sf, the property stands at 6491 Caballero Blvd. It will serve as a start-up location for the carton manufacturer.

Steve Sprenger of Grubb & Ellis’ Anaheim office and Randy Coe of Colliers Seeley represented the buyer and the seller, Buena Park-based William E McCroskey Trust, in the transaction.

Buena Park had no new industrial projects under construction at the end of the third quarter, according to research by Cushman & Wakefield. Only 25,000 sf of industrial space has been completed here during the first nine months of 2001, the report says. With little threat of overbuilding, Buena Park’s overall occupancy rate for industrial property stood at 3.5% at the end of the third quarter.

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