By Ariela Moraru
CBRE Group Inc. arranged the sale of an 81,836-square-foot industrial property in Anaheim, Calif., for $12.2 million. CBRE’s Gary Stache, Anthony DeLorenzo and Doug Mack represented the seller, Makena Properties.
Located at 5065 E. Hunter Ave., directly adjacent to Orangethorpe Avenue, the building is fully leased to retailer Discount Dance Supply. The asset has easy access to Route 91 and is close to several restaurants and fitness centers.
Tight industrial market
“This facility is ideally located in one of the tightest industrial markets in the nation and more specifically sits within the Canyon Corridor where the City of Anaheim has developed a plan to shape and maintain a vibrant home for innovative businesses,” said Stache in prepared remarks.
The Orange County industrial market has record-low vacancies, according to CBRE research. Demand in the area is driven by the aerospace, electronics, food and apparel industries.
Image courtesy of CBRE