VOIT COMPLETES TWO INDUSTRIAL SALES TOTALING $6.2 MILLION IN ORANGE COUNTY
Increased activity in the OC industrial market is good news for both buyers and sellers, according to Voit.
Orange County, CA – June 19, 2012 – (RealEstateRama) — Seth Davenport and Mitch Zehner of Voit Real Estate Services’ Anaheim office have completed two industrial transactions in Orange County encompassing 54,078 square feet for a total consideration of $6.2 million.
“Both buyers and sellers are now benefitting from increased activity in the OC industrial market,” said Seth Davenport, a Senior Vice President in Voit’s Anaheim office. “Because mid-sized industrial product is in short supply, pricing is on the rise. This motivates buyers to move quickly to acquire product within their desired areas, while also helping sellers to more easily dispose of product they wish to sell.”
Transaction #1
Seth Davenport and Mitch Zehner of Voit’s Anaheim office completed a $3.3 million, 26,033 square-foot industrial sale located at 4100 E. La Palma Ave. in Anaheim, Calif., on behalf of the buyer.
Voit’s Anaheim office represented the buyer, DG Performance, a manufacturer of aftermarket motorcycle exhaust pipes. DG Performance will fully occupy the building for its operations.
“Our challenge in this deal was to identify a property that could accommodate DG Performance’s manufacturing, while remaining within the city of Anaheim,” explained Davenport. “With industrial inventory running low in Anaheim, we drew upon our local resources to identify this property, which met our client’s manufacturing needs, while staying within their ideal geographical area.”
The seller, Simon Ozkan, was represented by Derek Paul of Ashwill Associates.
Transaction #2
Voit’s Anaheim office directed the $2.95 million sale of a 28,045 square-foot industrial building located at 1240 N. Red Gum Street in Anaheim, Calif., on behalf of the seller. The buyer, La Jolla Leasing M&A, LLC, a nutraceuticals company, plans to fully occupy this building to expand its manufacturing operations.
Seth Davenport and Mitch Zehner, an Executive Vice President in Voit’s Anaheim office, represented the seller, Frances Seiford, in the transaction.
“This sale demonstrates how buyers are increasingly more flexible in their property demands,” noted Davenport. “Our client’s property was ideally located for the buyer’s needs, with access to two major freeways. However, the buyer was not originally in the market for a two-story building with 13,806 square feet of office space. We were successful in communicating the opportunity to use the space for future expansion, and ultimately negotiated a deal that was beneficial to both parties.”
La Jolla Leasing M&A, LLC was represented by Scott Seal of Lee & Associates.
About Voit Real Estate Services
Voit Real Estate Services is now a 10 office commercial real estate firm that, through its brokerage and asset services professionals working together, provides strategic property solutions tailored to clients’ needs. Combining 40 years of expertise in brokerage, investment advisory, financial analysis, market research, asset management, tenant advisory and property management services, Voit provides clients with forward looking strategies that create value for their assets and portfolios.
Voit is a privately held, debt-free firm that has successfully navigated numerous market cycles since 1971 and currently employs more than 250 people. Voit has owned, developed and managed over 50 million square feet of commercial real estate, participated in $1.4 billion of construction projects and completed over $36 billion in brokerage transaction volume. Further information is available at www.voitco.com.
Contact:
Jenn Quader/ Judith Brower
Brower, Miller & Cole
(949) 955-7940
Jquader (at) browermillercole (dot) com
