CBRE Brokers $61 Million Sale of 8.38 Acre Industrial Land Parcel in Fullerton

CBRE negotiated the sale of an 8.38-acre industrial land parcel, including three industrial properties totaling 155,000 square feet on site in Fullerton, CA. B & K Investment Company sold the properties to Ares Management, a national industrial investor and developer, for $61 million.

CBRE’s Ben Seybold, Sean Ward and Keith Greer represented the seller in the transaction.

“Orange County’s industrial demand is strong, and the area is having one of its best years for leasing and sales activity,” said Mr. Ward, an Executive Vice President with CBRE. “This sale gives Ares many flexible redevelopment opportunities while also addressing the market’s need for more industrial space.”

Located in a highly desirable area of North Orange County, the corner land parcel includes three industrial properties located at 801 S. Acacia Ave. (±83,170 square feet), 811 S. Acacia Ave. (±56,000 square feet), and 1580 Kimberly Ave. (±15,830 square feet). The existing tenant has leased the properties back and will continue to occupy them for the time being.

With industrial tenant demand at an all-time high and availability rate at 1.8% lower than the previous quarter, we have seen more buildings under construction in North Orange County than ever before. Currently, there is upwards of 2.3 million sq. sf. of industrial land being built upon in North Orange County, which accounts for just over half of the total 4 million sq. ft. under construction in Orange County.