Colliers arranged the $15.5-million acquisition of two retail buildings in North Orange County and an industrial building in MidCounties. The assets span 36,441 square feet and are located at 16211-16217 Heron Ave, in La Mirada, 1268 S. Grand Ave. in Santa Ana, and 1821 N. Tustin St. in Orange.
Senior EVP Chuck Wilson represented the buyer, Rancho De Los Cazadores, who acquired the portfolio as part of a 7021 exchange and Southern California expansion plan.
“The North Orange County area hasn’t necessarily seen a surge in sales activity when it comes to larger assets, but activity remains consistent in mid-to-small-sized buildings,” said Wilson. “Leasing activity remains steadfast, but the market has experienced an uptick of tenant departures. The sale of these assets demonstrates increased demand for smaller, freestanding buildings due to limited product availability.”
The three buildings are currently 100% occupied and are situated in core Orange County locations.
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