Pocket-Book Vote in Favor of Local Market

ORANGE COUNTY, CA-A private real estate syndicate has agreed to pay $11.1 million for a 103,789-sf industrial building in Placentia, the latest sign that many investors still have faith that rents and prices in OC will continue rising even as the national economy continues to slow.

Part of the four-building complex fronts the 700 block of Kimberly Avenue, while the remainder fronts the 600 block of South Placentia Avenue. The buyer is Burbank-based F&F Placentia Associates LLC.

The seller is another partnership, IRP Muller Associates LLC of Laguna Hills. Kevin Shannon of Grubb & Ellis’ South Bay office and Jon Swallow and Dave Giglio of the firm’s Anaheim office represented both parties in the transaction.