ANAHEIM, CA-The Orange County Water District has purchased a 112,146-square-foot industrial property at 3255-3261 E. Miraloma Ave. The seller of the 13.27-acre property was Bath Fixtures Corp.
According to Voit Real Estate Services, who represented the buyer, this sale was one of the largest industrial sales in North Orange County this year, but the company was unable to disclose terms of the deal with GlobeSt.com at this time.
The Orange County Water District plans to convert the current facility into a water recharge basin, similar to adjacent sites also owned by the Water District. The seller, Bath Fixtures Corp., was represented by Zach Niles of CB Richard Ellis Inc. and Allen Buchanan at Lee and Associates, and reasons for selling were not disclosed.
“We assisted our client with the determination of fair market value for the property,” explains Mike Hefner, executive vice president of Voit Real Estate Services’ Anaheim Metro office. “In addition, we were able to negotiate a partial leaseback of the property with the seller and we will continue to actively market the unoccupied portion of the property.” Hefner and Mike Vernick, also of Voit Real Estate Services Anaheim Metro office, represented the buyer.
According to a recent market forecast report from Grubb & Ellis Co., Orange County’s manufacturing demand is expected to remain flat or contract this year due to the cost of doing business in California. “Core industrial areas, with easy access to freeways will continue to see the most activity,” the report said. “The Orange County industrial market stands somewhere between saturation and recovery, a market floor has yet to be established.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
