October 27, 2016
Toronto-based Bentall Kennedy acquired Anaheim Concourse, a 965,255-square-foot industrial property in Anaheim, CA for $188.2 million. The sellers were Newport Beach, CA-based Panattoni Development Co. and New York-based Clarion Partners LLC, on behalf of a separate account managed by the firm.
The infill development was completed last year and consists of seven Class A industrial buildings that are 86% leased. The lease rollover is staggered with the first expiring in January 2021 and less than 20% of the project’s square footage slated to roll in any given year through 2026.
CBRE’s Darla Longo, Barbara Emmons, Michael Kendall, Rebecca Perlmutter, Brad Bierbaum and Ryan Peterson represented the sellers. CBRE’s Val Achtemeier arranged financing for the project on behalf of the buyer.
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