The property, which is located at 22820 Savi Ranch Rd., has been acquired by testing equipment maker B & K Precision. The company paid $1.8 million for the facility.
B & K Precision was represented by Frank Mejia of Lee & Associates – Orange Inc. and ZeZe Baset of Tarbell-Yorba Linda. Louis Tomaselli and Mitch Zehner represented the seller.
These smaller transactions continue to keep local brokers busy during the current market slowdown. Orange County's industrial market has been impacted by the weak economy, despite its diversity. At the end of 2001, "availability rates for standard industrial space remained relatively low, staying in the range of what they have been through the boom of the past few years," according to a recent report by Grubb & Ellis Co.
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