(To read more on the industrial market, click here.)

ANAHEIM, CA-Overton Moore Properties of Gardena has sold a 120,000-sf warehouse and manufacturing building at 5235 E. Hunter Ave. to an East Coast-based pension fund adviser for nearly $12 million, according to CB Richard Ellis. Steve Batcheller of the Newport Beach office of CB Richard Ellis tells GlobeSt.com that the single-story industrial building with mezzanine office space was fully occupied at the time of the sale, which was brokered by a team from CBRE.

In addition to Batcheller, the CBRE team members included Paul Jones of the Newport Beach office, Darla Longo of the company’s Ontario office and Kevin Shannon of the CBRE South Bay office in Torrance. The firm that acquired the property represented itself.

Overton Moore had owned the property, which is a freestanding building on slightly more than six acres, for several years. The sale was a value-added play for the Gardena-based firm, which had fully leased the multi-tenant building since acquiring it.

Batcheller tells GlobeSt.com that the property drew interest from more than a dozen prospective buyers. Buildings in the manufacturing and warehouse category continue to account for the largest portion of industrial activity in Orange County, according to the latest market report from CBRE.

In the third quarter, for example, the manufacturing and warehouse sector produced 3.3 million sf of the total of 3.7 million sf of sales and leasing in the quarter, the CBRE report says, while the R&D portion of the industrial market accounted for approximately 538,000 sf of the activity.

The manufacturing and warehouse segment also accounts for most of the new construction under way in Orange County, the CBRE report notes. With 26 buildings totaling 1.1 million sf of industrial space under construction in the third quarter of 2006, the manufacturing-warehousing sector accounted for approximately 86% of construction and the R&D sector 14%.

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?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

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 © 2024 ALM Global, LLC. All Rights Reserved.