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| 1295 Lambert Road, Brea, CA |
BREA, CA, July 15, 2013 – Guthrie Development, a
full-service commercial real estate company, has acquired the note on a two
building, 61,155-square-foot warehouse and manufacturing facility located at 1295
W. Lambert Road in Brea, Calif. for $3.4 million. Guthrie subsequently foreclosed on the property, taking control
of the asset.
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| Rob Guthrie |
This deal
marks the first acquisition for the firm in a few years. The firm has developed
1.9 million square feet in Orange County.
Guthrie Development is looking to acquire existing industrial properties
and developable land.
“In this
highly competitive investment market, we have resources and ability to pay all
cash and to close quickly on deals that are the right fit for our firm,” said Rob
Guthrie, CEO and Founder, Guthrie Development.
“Although prices
have risen dramatically recently, industrial properties in Southern California
continue to outperform other product types.
We will continue to be actively looking to acquire industrial properties
and land in Southern California.”
Guthrie
went on to say that its plan is to significantly upgrade 1295 W. Lambert and
sell it to an owner/user.
Guthrie
Real Estate was represented by Jones Lang LaSalle in the acquisition of the
note. The lender, Union Bank,
represented itself.
1295 W.
Lambert is ideally located in North Orange County nearby the SR 91 and SR 57
freeways, providing convenient access to neighboring Southern California
communities and a diverse labor pool. The
property features 12 grade level door and 2.5 acres of excess land for outdoor
storage.
For a complete copy of the company’s news release, please
contact:
David Ebeling
Ebeling Communications
949.861.8351
949.278.7851 (Cell)
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