The buyer, Style Craft, paid $2.7 million for the 25,000-sf facility. The building includes both office and industrial space, according to Greg Velastegui, a Lee & Associates broker who worked on the transaction. Style Craft, will be the sole occupant of the building, which stands at 22922 Empresa.
Velastegui acted on behalf of Style Craft. The seller, Roglen LLC, was represented by a CB Richard Ellis brokerage team consisting of Ian Britton, Brad Bierbaum, Bob Goodmanson and Brian DeRevere.
Rancho Santa Margarita and surrounding areas kicked off the fourth quarter with an overall industrial vacancy rate of 8.1%, according to recent research by Cushman & Wakefield. This region experienced a positive net absorption of 163,408 sf, the report says.
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