Longo tells GlobeSt.com exclusively, “We received a tremendous amount of interest due to the iconic location of this hotly pursued class-A industrial property. This is one of the most significant transactions in Southern California, especially for Orange County.”

Emmons says, “Tenant demand in the Orange County industrial market remains strong, and we expect availability to remain within the 4% range over the next 12 months. Development activity is comparatively low and does not bring a sufficient amount of industrial space to the market, so high-end product like this is highly sought after.”

Demand in the area for industrial facilities has far outstripped supply. One 367,000-square-foot building was completed in the first quarter of this year, and another 219,000-square-foot site is currently under construction and expected to be finished in the fourth quarter. The activity totals less than 1% of the industrial base.

Kendall says, “Serving as the gateway between Orange and Los Angeles counties, this market is an integral part of Southern California's dynamic economy. And with the increasing necessity for same-day deliveries, particularly for e-commerce companies, being located close to major consumer hubs is integral to success today.”

With e-commerce and last-mile delivery growing more popular every day, infill industrial properties such as Anaheim Concourse are becoming valued all the more. As we recently reported, CBRE's managing director of Orange County operations Kurt Strasmann told GlobeSt.com, “The big fulfillment spaces first started in the Inland Empire, but these types of operations are now expanding across all infill areas. In Orange County, for example, these types of facilities aren't strictly 100% fulfillment but also feature various e-commerce components. The key for companies is to always understand how to reach their customers efficiently while maintaining a cost-service balance.”