Lee & Associates Orange Completes Sale for $4.49 Mil Owner/User Property
ANAHEIM, CA – The Orange office of Lee & Associates, the largest broker-owned commercial real estate firm in North America, has closed a $4.49 million sales transaction for the 19,200-square-foot industrial building located at 1711 State College Blvd., in Anaheim, Calif. Brad Gilmer and Tom Gilmer, Principals with Lee & Associates, successfully represented the seller Oviatt Trust, and Jeff Chiate and Rick Ellison of Cushman & Wakefield represented the buyer Bedrosian Tile & Stone.
The buyer purchased the property as part of an expansion of their tile/stone business and choose the location because its situated within the “Tile Mile” area of Anaheim. “The area continues to show it has one of the lowest vacancy rates in all of the North Orange County industrial submarkets,” according to Brad Gilmer. “This area enjoys a premium on sale and lease rates, because of the lack of available space. This is due to the high demand to be in this area, by tile, stone and flooring related companies.”
Lee & Associates Orange provides the commercial real estate user, owner and developer with real solutions to their business and operational space requirements. Lee Orange has 45 plus professionals practiced in selling and leasing of industrial, office, flex, retail, land, medical and research & development properties. Since 1983, we have assisted clients throughout Southern California with a focus on Orange County, Western Riverside County and the Mid-Counties area of Los Angeles. For the latest news from Lee & Associates Orange, visit Lee & Associates Orange or follow us on Facebook, LinkedIn, Google+ and Twitter.