BREA, CA—Guthrie Development has acquired three buildings in the Brea Industrial Complex with plans to convert the multi-tenant properties into industrial condominiums for sale. A full-service commercial real estate company, Guthrie acquired the property for $11,760,000.
The three-buildings are located at 950, 1050, 1150 West Central Ave. in Brea. Each building includes four units ranging from 6,000 to 12,000 square feet of space.
Guthrie plans to invest a few million dollars into the project for processing entitlements and speculative tenant improvements to convert the 100% occupied multi-tenant park into industrial condominiums for sale, noting that small industrial buildings for sale have proven to be a strong acquisition strategy for Guthrie.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
