The property, which stands at 1961 Petra Lane, has been scooped up by private investor David Peairs. It will be occupied by his water filtration company, which is relocating from Santa Ana. The 15,715-sf Placentia facility will provide the industrial space needed for the firm's growing operations.
Creative Sales, meanwhile, is moving its manufacturing operations to another location in Placentia. It has purchased a parcel of land here and plans to build a new industrial facility on it, according to Bryan Miller, a Lee & Associates broker who worked on the deal.
Miller, along with Allen Buchanan, represented Creative Sales Inc. Both men work at Lee & Associates' Orange office. Kevin Thomas of Lee & Associates-Newport Beach Inc. spoke for David Peairs.
Placentia had one of the lowest industrial vacancy rates in the county at the end of the third quarter, according to recent research by Cushman & Wakefield. Placentia's overall vacancy level for industrial property stood at 1.5%, the report says.
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