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| SOLD: Fully-Leased Industrial Facility at 18302 Gothard Street Huntington Beach, CA |
HUNTINGTON BEACH, CA – DAUM Commercial Real Estate Services has completed the off-market sale of an industrial facility totaling nearly 12,000 square feet in the Orange County submarket of Huntington Beach, California.
The
property, located at 18302 Gothard, sold for approximately $3.65 million.
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| Mike Barreiro |
The asset is 100% triple-net leased to collision repair operator Service King, a national credit tenant, according to Mike Barreiro, Executive Vice President and Principal at DAUM, who represented the seller and procured the buyer alongside Devin Ray, Associate at DAUM.
“Based
on our depth of knowledge of the West Orange County industrial market and its
limited inventory, we understood and were able to clearly communicate the value
of this asset based on the quality of the location, tenant, and lease term to
potential buyers,” explains Barreiro, who notes that his team is responsible
for 46% of Huntington Beach industrial sales under 15,000 square feet over the
last two years.
Devin Ray
“This was a win-win transaction in which we were able to secure a record-setting price for the seller and bring an increasingly rare investment opportunity to the buyer.”
Barreiro
notes that the tight West Orange County market saw a direct vacancy rate of
2.34% in Q2, according to a recent DAUM report.
The sale price broke a previous Huntington
Beach industrial record set by Barreiro’s team for buildings in the
7,000-to-13,000 square-foot size range by 11%.
Ray adds: “We were able to take this acquisition opportunity to our network of buyers with whom we’ve formed long-standing, trusting relationships, procuring several offers off market and ultimately closing with an all-cash buyer within 35 days.”
The asset is in a prime South Huntington Beach location with
convenient access to State Route 39, State Route 1, and Interstate 405.
Situated on 0.57 acres, it features street frontage, 18’
warehouse clear height, two ground-level loading doors, a fenced yard, an
AQMD-approved spray booth, warehouse skylights, and 200 amps of power.
CONTACTS:
Arleeny Escarcega / Elisabeth Manville
Brower Group
(949) 438-6262
aescarcega@brower-group.com
http://www.daumcommercial.com/
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