“The time was right to make the move on this particular site,” says Barnes. “The opportunity presented itself, so we acted on it.”

Aside from the timing, Mazda wanted to avoid the logistics of moving out of a facility that it had occupied for so long, Barnes continues.

Speaking on behalf of the seller, Griffin tells GlobeSt.com that EFT purchased the property seven years ago as a lease investment for its private family holdings and decided to sell for internal reasons. “They have an excellent relationship with Mazda, and prior to selling it to a third party, they approached Mazda first,” Griffin continues. “They offered it to Mazda due to their longstanding relationship and gave Mazda time to effectuate the close.”

Griffin says that “large facilities in Orange County are in high demand, as availability for properties above 100,000 square feet dropped to 2% throughout the county last quarter. As occupancy increases, buyers and investors are motivated to make deals.”