The company has paid $2.8 million for the building, which it has already occupied. Located at 20662 Prism Place, the facility encompasses 37,520 sf. It is being used for distribution.
Sy Corp. was represented by Kurt Bruggerman of Lee & Associates. Stan Mullin of Grubb & Ellis' Newport Beach office acted on behalf of the seller, Irvine-based Kenko World.
The South Orange County industrial market has been experiencing a renewed rise in industrial supply, according to a recent report on the region. The report, published by Lee & Associates – Irvine Inc., points out that the level of negative net absorption in the region more than doubled in the month of February.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
