October 19, 2016
Newport Beach, CA-based Western Realco acquired a five-building, 180,087-square-foot industrial property in Brea, CA from Guardian Capital Management for roughly $26 million.
The Berry Street industrial complex is situated on 15.8 acres and was 100% leased, primarily under short-term leases.
Western Realco’s Gary Edwards says, “The Berry Street industrial complex is located in one of Orange County’s tightest submarkets with historic rent growth and near zero vacancy.” Edwards notes they will immediately initiate an asset repositioning campaign to meet demand in North Orange County, also one of the tightest markets in the U.S.
JLL’s Louis Tomaselli and Zach Niles represented the seller. The buyer was self-represented.
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