DAUM Brokers Sale of 41 KSF Industrial Facility in OC
- Dec 05, 2017
DAUM Commercial Real Estate Services has arranged the sale of a 40,532-square-foot industrial facility in Huntington Beach, Calif. The facility was acquired by a family-owned electronic vaping business for $7.2 million. DAUM Commercial worked on behalf of the buyer and JLL represented the seller, Carol Watson Trust, in the deal.
Located at 5802 Engineer Drive, the building was previously occupied by United Calibration Corp. The buyer will take over the asset at the end of this year and will use it as a product manufacturing and distribution facility. The property provides easy access to Irvine via Interstate 405, as well as to Los Angeles through interstates 5 and 605, both cities are located within 30 minutes.
“The initial challenge to overcome was the scarcity of industrial inventory in this West Orange County submarket, which is a crucial location for our client’s operations,” said Mike Barreiro, executive vice president at DAUM Commercial, in prepared remarks. “With vacancy rates hovering just above 2 percent at the close of (the third quarter), our team recognized the need to find a creative solution in order to meet our Client’s needs.”
Barreiro, together with First Vice President Andrew Lara represented the buyer in the transaction.
In another recent industrial deal, DAUM’s Ontario office represented Savvy Intellect LLC in the sale of an industrial facility in San Bernadino, Calif.
Image courtesy of DAUM Commercial