November 30, 2016
Newport Beach, CA-based Bixby Land Co. acquired a 121,341-square-foot industrial building on a 5.3-acre site in the Platinum Triangle area of Anaheim, CA for $18.2 million. The all-cash transaction increases Bixby’s core industrial investments, and was completed with Newport Beach-based Alere Property Group.
The property is 100% occupied on a long-term lease by Blue Line Foodservice, and serves as a regional distribution point for Little Ceasars restaurants.
Bixby’s Mike Severson says, “We remain committed to an investment strategy that identifies high quality warehouse distribution product. Bixby has acquired over $100 million of industrial product over the last 24 months, and we have a strong appetite for this type of product going forward.”
Cushman Wakefield’s Jeff Chiate, Jeff Cole, and Rick Ellison represented the seller. Bixby was self-represented.
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