Temp Power Acquires 25,000 SF in Placentia

PLACENTIA, CA-An Anaheim-based company that provides temporary power for clients in the construction industry has purchased 25,000 sf of industrial space in Placentia.

The buyer, Temp Power Systems, has paid more than $2.1 million for the facility, which is located at 625 Fee Ana St. The new owner has procured the property from Richard D. and Pamela K. Sholten. Temp Power Systems was represented by Ian Britton and Brad Bierbaum of the Anaheim office of CB Richard Ellis.

The acquisition comes as a new report on Orange County reports the industrial availability rate at 10.64% for the second quarter of 2002, up 61% from the year-ago figure of 6.59% and an increase of just under 1% from the first quarter this year.

The report, published by Voit Commercial Brokerage, adds that the level of leasing activity rose in the second quarter of 2002 to 4.1 million sf, compared with 2.9 million sf in the first quarter. But the second quarter total declined by almost 1 million sf, or 19%, when compared to the same quarter of last year.