June 9, 2017
Connect Industrial is heading to Chicago, June 28th. Here’s where to get more details and register.
Doyle Properties, LLC acquired an industrial property in Anaheim, CA from Blackstone Group for $19.8 million in a 1031-exchange. Located at 1250 N. Tustin Avenue, the nearly 85,000-square-foot, free-standing corporate HQ office/flex property will serve as Econolite Group, Inc.’s new high-image facility.
CBRE’s Carol Trapani, Ben Seybold and Sean Ward represented the buyer, and Colliers’ Clyde Stauff advised the seller.
As part of the transaction, CBRE facilitated Doyle Properties’ sale of Econolite’s former 144,000-square-foot property in Anaheim earlier this year. Econolite sought a new facility with a modern layout and design to help attract and retain employees.
Seybold said, “Our team uncovered an off-market property, structured a complex lease with option to purchase, worked with an extensive team including architects, contractors and specialty vendors to design, create and execute a new employee-focused layout and environment, while dovetailing the timing of the sale, leaseback and 1031-exchange of Econolite’s former facility.”
For comments, questions or concerns, please contact Dennis Kaiser