The facility, known as Anaheim Gateway, will rise at 1190 N. Anaheim Blvd. Planned to encompass 192,785 sf, the industrial building will feature 30-ft clearance height, an ESFR sprinkler system, 32 dock positions, cross dock loading, two grade level doors, and concrete truck aprons. "It has all the bells and whistles of a state-of-the-art distribution facility," says Brian P. Corrigan, one of the brokers marketing the property. Corrigan of Voit Commercial Brokerage and Jeff Kernochan of Fischer & Co are marketing the facility, which is scheduled for completion in October or November.
The project comes at a time when industrial users are clamoring for more space in this corridor that stretches between Los Angeles County and the Inland Empire. "There is a hole in the market right now for large distribution buildings in that corridor," Corrigan tells GlobeSt.com.
Developers have been breaking ground on industrial projects countywide in the past few weeks, as they rush to take advantage of the tight market. Orange County's industrial market vacancy rate remains historically low, according to a recently published report by Voit Commercial Brokerage. The county's industrial market consists of 7,683 buildings, totaling 266,303,650 sf, the report says. The vacancy level in this market was 4.91% at the end of the first quarter, Voit reports.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.