Colliers Facilitates $15.5M Sale of Orange County Retail and Industrial Properties
Colliers has successfully arranged the $15.5 million acquisition of a portfolio consisting of two retail buildings in North Orange County and one industrial property in the MidCounties region. The trio of assets totals 36,441 square feet and includes locations at 16211-16217 Heron Avenue in La Mirada, 1268 South Grand Avenue in Santa Ana, and 1821 North Tustin Street in Orange.
Senior Executive Vice President Chuck Wilson represented the buyer, Rancho De Los Cazadores, in the transaction. The acquisition was part of a 7021 exchange and supports the buyer’s strategic expansion in Southern California.
“The North Orange County area hasn’t necessarily seen a surge in sales activity when it comes to larger assets, but activity remains consistent in mid-to-small-sized buildings,” noted Wilson. “Leasing activity remains steadfast, but the market has experienced an uptick in tenant departures. The sale of these assets demonstrates increased demand for smaller, freestanding buildings due to limited product availability.”
All three properties are fully leased and located in core areas of Orange County, underlining their appeal within a tight market for quality standalone commercial buildings.
