The buyer, privately held Yen Enterprises, paid $3.4 million for the property. The building stands at 14655 E. Firestone Blvd.
Yen Enterprises was represented by Jeff Mitchell and Mitch Zehner of Voit Commercial Brokerage. The same brokers also represented the seller, private investment group known as La Mirada Metro Center Associates.
The transaction is the latest in a string of industrial real estate sales that has recently been completed across the county, where a sharp drop in construction activity has helped to keep a lid on vacancy rates. According to a recent Voit Commercial report, there is a relatively modest 3 million sf of industrial space currently under development across Orange County—a 27% drop from year-earlier levels.
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.
