May 12, 2016
Newport Beach, CA-based Guthrie Development Co. completed the sale of all 25 industrial condominium units at Foothill Business Park, a 59,478-square-foot project located in Lake Forest, CA. The property, acquired in late 2013, features units ranging in size from 1,517 to 3,203 square feet.
Guthrie sold the first unit at a second three-building project, Brea Central Business Center in Brea, CA. The property was repositioned and entitled as industrial condos since being acquired in 2015.
CEO and founder Rob Guthrie says, “Orange County is an entrepreneurial market. With limited new construction in this size range, we’ve been able to reposition existing multi-tenant industrial space into industrial condos that provide the type of layout and setting that appeal to business owners.”