Harbor Associates, LLC, in a joint venture with Farallon Capital Management, has acquired the Yorba Linda Commerce Center, a 280,000-square-foot, small bay, multi-tenant industrial campus in an off-market transaction valued at $81 million. Located at 3910 Prospect Ave. in the northern Orange County community of Yorba Linda, the 16.5-acre property was 98% leased at closing.
“Yorba Linda Commerce Center is a high-quality project that is truly irreplaceable in this market,” said Rich McEvoy, principal at Harbor Associates. “The project offers local businesses the opportunity to operate close to home in a pristine work setting, with a thoughtful mix of suite sizes designed to meet current operational needs and still accommodate future growth.”
The seller, a private family that has owned the property for more than 30 years, was represented by Gary Martinez of Ashwill Associates. Shaun Moothart, Bob Ybarra and Andrew Post of CBRE represented Harbor in securing the $56,300,000 fully funded loan, provided by an affiliate of QuadReal Property Group, with Brandon Bachner leading the financing on behalf of QuadReal.
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