The buyer, W. L. Butler Construction Co., has paid more than $1.6 million for the industrial facility. It is located at 7 Goodyear.
Irvine-based W. L. Butler Construction Co. was represented by Jim de Regt and Kevin Quick of Lee & Associates – Newport Beach office. Dean Krieger of Lee & Associates – Irvine Spectrum office acted on behalf of the seller, Schep Properties Ltd.
Buyers of Orange County industrial product continue to snatch up facilities here in the small to mid-sized range. This type of product continues to attract more buyers, as interest in the large R&D-flex market has started to wane. According to a recent survey by Grubb & Ellis Co., now that the region is suffering from a space glut, it is that R&D-flex market that "has been hardest hit."
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