ORANGE COUNTY, CA (Aug. 23, 2012) – Mike Vernick (top right photo) and Mike Hefner (top left photo) of Voit Real Estate Services’ Anaheim office have completed two industrial transactions encompassing 87,788 square feet in North Orange County.
“Industrial sales activity continues robustly in North Orange County as demand for industrial product remains strong,” said Mike Vernick, a Vice President in Voit’s Anaheim office.
“We are seeing an increasing number of companies implementing expansion plans as they garner market share from struggling competitors or vertically integrate supply chains.
“As the supply of mid and larger-sized properties continues to decline we expect the already improving industrial property values to continue appreciating throughout Orange County.”
Transaction #1
Voit’s Anaheim team completed the $5.9 million acquisition of a 77,788 square-foot industrial property in Placentia, Calif. Mike Vernick and Mike Hefner of Voit represented the buyer,
Transaction #1
Voit’s Anaheim team completed the $5.9 million acquisition of a 77,788 square-foot industrial property in Placentia, Calif. Mike Vernick and Mike Hefner of Voit represented the buyer,
Classic Performance Products, a producer of high performance aftermarket suspension and braking chassis parts for classic automobiles. The company plans to use the property for its manufacturing, sales, and R&D operations.
“Our client had very specific operational needs that are not easily met by the current market’s inventory,” said Vernick. “Our team was able to identify an ideal property that could accommodate our client’s expanding showroom and manufacturing needs all within a tight geographic radius.
The seller, Lincoln Imports, was represented by Erik Wanland and Sean Ward of CBRE. The property is located at 378 E. Orangethorpe Avenue in Placentia, Calif.
Transaction #2
Mike Vernick and Mike Hefner of Voit’s Anaheim office also directed the $1.1 million sale of a 10,000 square-foot property located at 1721 N. Lime Street in Orange, Calif., on behalf of the seller, The Berg Family Trust.
“We leveraged the high demand amongst buyers and the lack of functional properties for sale in the Orange County market, and we were successful in generating a number of competitive offers on this property,” explained Vernick. “As a result, the property went into escrow within one week of being exposed to the market.”
The buyer, Mark Templeton, who plans to use the property for his excavating company, was represented by Chuck Wilson and Blake Garrett of Colliers International
Contact:
Jenn Quader/ Judith Brower
Brower, Miller & Cole
(949) 955-7940
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