January 17, 2018
Houston-based Hines acquired 515 E. Dyer, a recently-vacated infill industrial asset totaling 414,309 square feet in Santa Ana, CA. The building was formerly owned and occupied by Royalty Carpets.
Hines’ Ray Lawler says, “Hines is committed to expanding our industrial/logistics portfolio and the Southern California market presents an enormous opportunity to achieve scale in the country’s largest industrial hub.”
A robust capital improvement plan is underway, which includes a new roof, seismic retrofit, expanded trailer parking, office upgrades, landscape and signage. When complete, the property will be positioned as ideal for last mile distribution or more traditional manufacturing and warehouse tenants.
Cushman and Wakefield’s John Griffin brokered the off-market transaction.
For comments, questions or concerns, please contact Dennis Kaiser