Located at 6 Thomas, the two-story facility encompasses 29,442 sf. It contains both office and R&D space.
The seller, ProLong Super Lubricants, will leaseback the facility. The building serves as the world headquarters for the company, which markets and distributes patented car care lubricants and automotive appearance products.
Prolong Super Lubricants was represented by George Economos and Steve Economos of NAI Capital Commercial. The buyer was represented by John Rothwell of Daum Commercial.
Industrial rents will decrease throughout Orange County in the upcoming months, while sale prices are expected to stay fairly stable, according to a recently released industrial broker survey conducted by Grubb & Ellis.
The surveyed brokerage firms, which include Grubb & Ellis, Cushman & Wakefield, CB Richard Ellis and Colliers Seeley, expect that lease rates countywide will decrease by anywhere between 5% to 15% over the next several months.
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