Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ANAHEIM, CA-Metal Powder Products Co. has sold its Anaheim industrial facility to a Costa Mesa-based investor and simultaneously inked a lease to remain in the building.

Cardinal Development Co. has paid $2.8 million for the one-story building, which encompasses 45,250 sf. Built in 1971, the facility stands on a 121,968-sf land parcel at 5500 E. La Palma Ave.

Metal Powder Products Co. will continue to occupy the Anaheim building, having signed a 10-year lease with two five-year options to renew.

Ben Seybold of CB Richard Ellis Services Inc. acted on behalf of both Metal Powder Products Co. and Cardinal Development Co.

The level of leasing activity in the Orange County industrial market is on the rise, having jumped to 4.1 million sf in the second quarter of this year from 2.9 million sf in the first quarter. Net absorption was 498,497 sf for the second quarter, giving the county a total of 533,558 sf of negative absorption for the first two quarters of 2002.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.