GARDEN GROVE, CA—GlobeSt.com has learned exclusively thatKarney Management Co. has purchased a125,000-square-foot warehousing anddistribution center at 12101 WesternAve. here from Regal Logistics for $14.8million. The transaction is being hailed as one of Orange County'slargest industrial property transactions of2014.
The property was built in 1987, and Karney is now executing anextensive renovation and refurbishment. GlobeSt.com was unable todetermine before deadline the extent of the renovation or the totalanticipated construction costs.
The facility features 14 dock-high loading doors with levelers,one ground-level loading door, two fenced and secured truck yards,a truck scale and direct-surface access to five major surfacetransit routes: the 22, 405, 605 and 91 freeways, plus I-5. Itslocation also provides access to the ports of Los Angeles and LongBeach and to the Alameda Corridor.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
