The buyer, LA-based RPM Investments, has paid $2.8 million for the facility. Located at 1517 Braden Court, the building was vacant at the time of sale.
RPM Investments was represented by Jim McFadden and Bob Crenshaw of Grubb & Ellis' Anaheim office. Jeff Read and Kevin Shannon of Grubb & Ellis negotiated for the seller, Orange-based BHH Properties. Read works out of the firm's Anaheim office and Shannon works out of the company's South Bay office.
Investors continue to look favorably on industrial properties, as the county's industrial market has been keeping up a steady performance. The industrial availability rate for second quarter of 2001 was at 5.59%, according to a recent report released by Voit Commercial Brokerage. The figure is nearly the same as the second quarter of 2000, when the rate was 5.52%.
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