NAI Capital Completes $3.1M Investment Sale of an Industrial Facility in Orange, CA
Irvine, CA, December 20, 2018– Executive Vice President David Knowlton, SIOR, CCIM with NAI Capital’s Investment Services Group completed the sale of a 14,150 square foot manufacturing facility in Orange, California. David represented the seller, Ronnie Carroll Tipton & Paula Hazel Tipton. The buyer was The Barkhozia Family Trust. The building sold for $3,150,000 or $223 per square foot.
The property is located at 1591 N Main Street within the North Orange County Industrial submarket. Built in 1987, the two-story manufacturing facility features heavy power with 800 Amps, 277/480 Volts, 20’ clear height, 5 ground level loading doors, five restrooms and approximately 4,154 SF of 2-story office space. The building is situated on a 30,492 square foot lot in a high image area of Maingate Business Center. The project was occupied by Heritage Carbide, Inc at the time of the sale. The new owner plans to hold the property as an investment.
David said, “This property presented a unique opportunity for my client to sell in a very favorable market. With a chronically short supply of industrial product in the region, demand remains strong for investors interested in a long-term hold.”
About NAI Capital
NAI Capital is the largest independently owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, the premier managed commercial real estate service network with 400 Offices and 7,000 market leaders spanning the globe, NAI Capital provides a complete range of transaction, valuation, investment, property management and consulting services. By leveraging our local expertise with our global reach, NAI Capital offers innovative, customized solutions and seamless service to owners, tenants, investors and developers throughout Southern California. NAI Capital clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital we work together putting our clients first.
NAI Capital Brokerage CA BRE #01990696.
To learn more, visit www.naicapital.com.
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.
To learn more, visit www.naiglobal.com.
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