Industrial Sales, Leases Tally Nearly 194,000 SF

[IMGCAP(1)]BUENA PARK, CA-The Community Redevelopment Agency of the City of Buena Park has acquired 101,000 square feet here in one of three recently closed Orange County industrial deals totaling nearly 194,000 square feet. The other two transactions were newly signed leases in Garden Grove that were both expansions.

In the Buena Park transaction, CB Richard Ellis reports that the Community Redevelopment Agency acquired the 101,000 square feet at a 3.66-acre property at 6955 Aragon Circle that will serve as its new city yard. The city paid $7.25 million for the property in what CBRE describes as one of the largest industrial sales to close in Orange County this year.

[IMGCAP(2)]The 101,000 square feet, which will replace the existing city yard at 8071 Page St., was built in two phases and is composed of a two-story 44,000-square-foot building that is adjoined to a three-story 57,000-square-foot building. The city, which bought the building from US Union Tool Inc., was represented by Josh Bonwell and Rick McGeagh of CBRE. The acquisition team at the City of Buena Park was led by assistant economic development director Ruben Lopez, director of public works Jim Biery and city manager Rick Warsinski.