The property, located at 3360 East La Palma Avenue, contains approximately 85,000 square feet of warehouse space and 48,900 square feet of office space. American Technologies, Inc. plans to rehab the facility, last purchased 30 years ago. The building is located within Anaheim’s Canyon Business Center, a prominent local business corridor. The building features major street frontage and is in proximity to the Metrolink train station.
“We were able to uncover a buyer who needed a corporate headquarters facility and was willing to transition the property from a common manufacturing building to a high-image corporate headquarters facility,” said Seybold.
Despite the Orange County industrial market's historically low vacancy and declining available supply, overall market fundamentals remain strong with continued high demand for sale and lease requirements, according to CBRE Econometric Advisors. The lack of development has pushed down availability of quality space, therefore increasing average sale prices for industrial product, with a consistent upward trajectory as evidenced by an 8 percent year-over-year increase at the end of the fourth quarter, setting a new market high.
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CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.