CBRE Completes $18.5 Million Sale of Industrial Property in Anaheim

CBRE Investment Properties’ Anthony DeLorenzo, Gary Stache, Bryan Johnson and Nick Williams, along with Keith Greer, negotiated the $18.5 million sale of 3000 – 3010 East La Jolla Street, a two-building industrial complex totaling 88,128 sq. ft., on behalf of a Southern California-based private seller.

“This sale reflects the continued strong demand for well-located industrial properties in Southern California,” said Mr. DeLorenzo, vice chairman at CBRE. “The asset drew strong demand from a diverse buyer pool, ultimately transacting at a 4.9% cap rate.”

The two one-story buildings are on East La Jolla Street between North Kraemer Blvd and South Melrose Street in Anaheim. The building at 3000 East La Jolla is 50,128 sq. ft. and the second building at 3010 East La Jolla is 37,128 sq. ft. Both facilities feature a dock and truck well.

Sonfarrel Aerospace, an aerospace part manufacturer, has fully occupied the space since 1974 and will continue to do so after the sale. The property is located along the Anaheim technology corridor and minutes from State Route (SR) 57 and SR 91.