The seller, AP Victoria LLC, was represented by Mike Hefner of Voit Commercial Brokerage's Anaheim Metro office. Hefner also represented the buyer, Victoria Realty Investors LLC, which needed to meet a 1031 tax-deferred exchange.
"The business park is a well-located institution-quality project, which will be held as a long-term investment," Hefner says.
Demand for industrial space continues throughout the county, as the area is beginning to see a turnaround in the manufacturing decline. Last week, Guthrie Development Co. announced that it has begun construction on a six-building industrial complex in Rancho Santa Margarita. The development will consist of six buildings that will rise on a 3.6-acre parcel at the corner of Arroyo Vista and Valeroso. Completion is slated for January 2002.
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