(Read more on the industrial market.)

FULLERTON, CA-A local private investor has acquired a 108,398-sf two-tenant industrial building here that has nearly doubled in price since it last traded four years ago, illustrating what market experts describe as the continued strength and growth in the county’s industrial market. The property, at 1600 E. Valencia Dr., sold for nearly $9.4 million after trading for $4.8 million in December 2003.

Vernon Holdings LLC bought the building from Newport Beach-based Wohl/Valencia LLC in a transaction that was brokered by Michael Lawrence, vice president of investments with the Newport Beach office of Marcus & Millichap. The two-story warehouse building, which was constructed in 1961 and was renovated in 2006, features 11,591 sf of mezzanine space.

Prices continue to rise in the Orange County industrial market because of supply and demand factors that include a shortage of land, according to a report from Marcus & Millichap on the county’s industrial market. The report notes that what little inventory growth occurs in the county is concentrated in the North County and Central County submarkets, where developers have land holdings.

Vacancy remains below 4% in the North County submarket, the Marcus & Millichap report points out, with even lower vacancies in the small west county areas of Huntington Beach, Cypress and Los Alamitos. Marcus & Millichap’s latest outlook for the county’s industrial properties is that “buyer demand will remain at high levels, but strong fundamentals will limit the number of properties that are brought to market.”

A report on the market by Sperry Van Ness projects a vacancy rate of 4.1% for the Orange County industrial market in 2008 and ranks it as one of the 10 US industrial markets to watch in 2008. “Additionally, further industrial developments are restricted by a lack of available land, making the long-term investment outlook for the Orange County industrial market highly positive,” the Sperry Van Ness report says.

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.


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.