A security company known as JP Scenic LLC has snatched up the building, which is located at 1690 Scenic Ave. The buyer is also the building's sole occupant. Built in 1981, the property encompasses 34,886 sf. It has a minimum clearance height of 20 ft.

The buyer was represented by Jim Snyder, Pat Lacey and Greg Velastegui of Lee & Associates. The brokerage team, which works out of the firm's Newport Beach office, also represented the seller, Scenic Avenue Properties.

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. On the other hand, sale prices are expected to stay fairly steady over the next quarter.