December 20, 2016
San Francisco-based Berkeley Partners acquired the 117,760-square-foot Yorba Linda Business Park from Los Angeles-based Rexford Industrial Realty, Inc. for $17 million. The 68-unit project includes four single-story buildings located on a more than 9-acre site on La Palma Ave. in Yorba Linda, CA.
The asset features flexible suite sizes accommodating a wide range of industries. Major tenants in the park include The Well, Canyon Crossfit, Global Powersport Resource, CaliRovers, LLC and Central Enterprises.
Cushman & Wakefield’s Jeff Chiate, Jeffrey Cole, Mike Adey, Ed Hernandez and Nico Napolitano represented buyer and seller in the transaction, with C&W’s Rick Ellison providing local market advisory.
Chiate says the property is “positioned in a desirable submarket with strong demographics. Also, noting that it “is a high-quality newer construction, multi-tenant project poised to continue to experience strong rental rate growth.”
For comments, questions or concerns, please contact Dennis Kaiser