(Read more on the industrial market.)
FULLERTON, CA-A local private investor has acquired a 108,398-sftwo-tenant industrial building here that has nearly doubled inprice since it last traded four years ago, illustrating what marketexperts describe as the continued strength and growth in thecounty's industrial market. The property, at 1600 E. Valencia Dr.,sold for nearly $9.4 million after trading for $4.8 million inDecember 2003.
Vernon Holdings LLC bought the building from Newport Beach-basedWohl/Valencia LLC in a transaction that was brokered by MichaelLawrence, vice president of investments with the Newport Beachoffice of Marcus & Millichap. The two-story warehouse building,which was constructed in 1961 and was renovated in 2006, features11,591 sf of mezzanine space.
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