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FULLERTON, CA-As Fullerton’s industrial vacancy rates continue to rise, a fully leased industrial complex here has been snatched up for $8.5 million.

The property, known as Commonwealth Industrial Park, has been acquired by Hager Pacific Properties through Pacific West Management, one of its related entities. Comprised of three buildings, the 280,000-sf complex is located at 2401-2425 W. Commonwealth Ave. and 2410-2440 Artesia Ave. The property stands on a 12.5-acre parcel approximately one-half mile east of the Fullerton Airport. It is currently occupied by five industrial tenants.

Robert Tuller and Tom Baginski of BT Raike Commercial Real Estate represented both the buyer and the seller, Sherbourne Properties.

Fullerton’s overall vacancy rate for industrial property is one of the highest in the county, kicking off the fourth quarter at 11%. This figure contrasts greatly with the county’s overall vacancy rate, which stood at 5.7% at the end of the third quarter.

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