Search
 

Tight Market Brings Record-High Comp for Industrial

Western Realco sells a new free-standing warehouse with two-story office here for $32.5 million after redeveloping the property on spec and razing a vacant 88,000-square-foot office building.

By Carrie Rossenfeld | Updated on January 11, 2018

4150 W. Palm St. 4150 W. Palm St. is located in one of the strongest and tightest industrial markets in the country.

FULLERTON, CA—Western Realco has sold a new free-standing warehouse with a two-story office component at 4150 W. Palm St. here for $32.5 million to user-buyer Brad Rambo and Associates. The seller redeveloped the property in 2017 on spec, razing a vacant 88,000-square-foot office building in the process, garnering a record-high comp for the asset.

CBRE‘s Sean Ward, Ben Seybold and Keith Greer represented the seller in the transaction, while the buyer was represented by Casey Mungo of Daum Commercial. Ward tells GlobeSt.com, “The record-high comp in this transaction is credited to the extreme lack of available user purchase options in the market, along with a perfectly designed building.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.