The nearly 1-million-square-foot property consists of seven class-A industrial buildings that are 86% leased.
ANAHEIM, CA—Bentall Kennedy has purchased the recently constructed, 965,255-square-foot Anaheim Concourse industrial property here—from a joint venture between Panattoni Development Co. and Clarion Partners LLC on behalf of a separate account managed by the firm—for $188.2 million. The asset sits in one of the most-desired infill markets in the Greater Los Angeles and Southern California market, with overall industrial vacancies at 1.8%.
Anaheim Concourse, located on North Miller St., was completed last year. It consists of seven class-A industrial buildings that are 86% leased, with the lease rollover staggered; the first one is expiring in January 2021 and less than 20% of the project's square footage is set to roll in any given year through 2026.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
