R&D, Industrial Deals Total $4M

COSTA MESA, CA-Orange County-based investors have acquired a substantially leased 19,271-sf R&D building here for $2.5 million, and a freight forwarder has moved to a new warehouse in Cypress after selling its existing Garden Grove facility for $1.4 million, according to brokers from GVA Daum, Colliers Seeley International and Voit Commercial Brokerage.

In the Costa Mesa transaction, Chris Migliori of the Anaheim office of GVA Daum reports that a private individual from Huntington Beach purchased a building located on 1.2 acres of land at 3587-3589 N. Harbor Blvd. Migliori represented A. C. Industrial Properties of Buena Park, the seller, with Available Properties representing the buyers.

According to Migliori, approximately 12,000 sf of the building is leased by Marmac Engineering, with some 8,000 sf remaining available for lease. The highly improved wood frame and stucco structure features three ground level doors, a large yard, and close proximity to such major retailers as IKEA, Home Depot and Costco.

In the other transaction, international freight forwarder Nedrac Inc. has sold a 13,139-sf industrial building at 11555 Monarch St. in Garden Grove to locally based AQ Pharmaceutical for $1.4 million. Nedrac, which ships cargo including aircraft parts, household goods, office equipment, medical supplies, and agricultural products, has signed a 7,821-sf, two-year lease on a warehouse and distribution facility at 5730 Lakeshore Drive in Cypress.

Wayne Lambert of Colliers Seeley International’s Anaheim office represented Nedrac in the sale of its building. Mike Bouma of Voit Commercial Brokerage’s Anaheim Metro office represented the buyer.