MIG Real Estate LLC has recently acquired a 100,295-square-foot industrial site in Mission Viejo, California for $30.3 million. The property, known as Mission Viejo Business Center and located at 23811-23981 Via Fabricante, consists of six buildings and was purchased from a global investment advisor.
According to Kevin Stiles, director of commercial investments for MIG Real Estate, this acquisition aligns with the company’s strategic investment plan which focuses on small bay industrial assets in highly desirable locations with limited supply growth. The property is currently operating at full capacity with 99% occupancy among its 43 tenants.
The transaction was facilitated by Jeff Chiate,Bryce Aberg,Jefrey Cole,Rick Ellison,Mike Adey,and Zach Harmanof Cushman & Wakefield’s National Industrial Advisory Group in Southern California who represented the seller.
Built in1975,the business center is conveniently situated near major highways such as Interstates5and405as well as John Wayne Airport,making it an attractive location for businesses looking to establish themselves within the region. MIG Real Estate plans to continue operating the property under its current use while also exploring similar opportunities for investments throughout Southern California and other targeted regions across Western,Southeastern U.S.,and Sun Belt states.This recent acquisition further solidifies MIG Real Estate’s position as a leading player within the commercial real estate market.
