Tag Archive for: Commercial Real Estate
12472 Edison Way: King Shocks taking over Isuzu’s Garden Grove Facility
By Mark Mueller | June 6, 2016
Garden Grove HQ
King Shocks, a Garden Grove-based maker of shock absorbers and other automotive products, has bought an industrial property in its hometown for a new, larger headquarters.
The company recently closed on the purchase of 12472 Edison Way, a 55,576-square-foot industrial facility about half a mile north of the Garden Grove (22) Freeway near Lampson Avenue.
An affiliate of Irvine-based LBA Realty sold the building for a little more than $9.4 million, or $170 per square foot. LBA acquired the property in 2012 as part of a reported $144 million portfolio deal of local industrial properties previously owned by Kilroy Realty.
The latest sale was brokered by Voit Real Estate’s Mike Bouma, Paul Caputo and Eric Smith.
The property previously served as an Isuzu Motor Co. research and development facility, housing offices, a fuel storage room, and a car wash for the automotive company.
The facilities should fit well for King Shocks, a manufacturer and servicer of custom-made automotive shock absorbers, as well as performance racing products for utility vehicles and professional racing.
“There is around a 2% vacancy rate in the area and it took almost a year to find the right building for this group,” Voit’s Caputo said in a statement.
King Shocks had been leasing a 17,500-square-foot headquarters facility on Joy Street, according to brokerage data.
Another Successful Year for the Bouma Caputo Team
Over $60 million in Sale & Lease consideration in 2015.
The Big Squeeze – Feeling the Pressure of Low Inventory
They call New York City the Big Apple and New Orleans the Big Easy. When it comes to the industrial property market, Orange County is becoming known as the Big Squeeze. Conditions are such that good value is getting harder to find, competition for space is becoming intense and prices are being forced up by the simple law of supply and demand. Vacancy is now so low, (2.6% at the end of September) that some businesses are forced to stay where they are because a better option is just not available. The result: lower transaction volume and even fewer properties to choose from. Measured in square feet, sale transaction volume in Q3 of 2015 was 47% lower than it was the same time last year. Even leasing activity is feeling the pressure, having dropped by 67% in the same period. Read more
VOIT REAL ESTATE SERVICES DIRECTS THE $10,528,000 SALE OF A 66,000 SQUARE-FOOT INDUSTRIAL BUILDING PROPERTY IN GARDEN GROVE, CA
Garden Grove, CA (November 1, 2015) – Mike Bouma, Senior Vice President and Paul Caputo, Vice President, of Voit Real Estate Services’ Anaheim office successfully directed the $10,528,000 million sale of a 66,000 square-foot industrial warehouse in Garden Grove, on behalf of the buyer, The Smith Family Trust. The buyer, a distributor of educational products, will use this property to expand and consolidate the operations of their business, Teacher Created Resources, according to Bouma. The brokerage team successfully executed a plan where they were able to locate a new facility on behalf of the buyer, after which they listed and sold their two existing building and successfully executed a complex multi-property exchange. The brokerage team also coordinated a team of professionals to assist with the transaction and relocation, including the space planner/architect, racking consultant, and exchange accommodator.
The property is located at 12621 Western Avenue in Garden Grove, CA within the West Orange County Industrial market place.
About Voit Real Estate Services
Voit Real Estate Services is an 11 office commercial real estate firm that, through its brokerage and real estate management professionals working together, provides strategic property solutions tailored to clients’ needs. Combining more than 40 years of expertise in brokerage, investment advisory, financial analysis, market research, real estate management and tenant advisory, Voit provides clients with forward looking strategies that create value for their assets and portfolios.
Voit is a privately held, debt-free firm that has successfully navigated numerous market cycles since 1971 and currently employs more than 250 people. Voit has owned, developed and managed over 64 million square feet of commercial real estate, participated in $1.4 billion of construction projects and completed over $42.5 billion in brokerage transaction volume. Further information is available at www.voitco.com.
VOIT REAL ESTATE SERVICES DIRECTS THE $6,052,284 SALE OF A 41,454 SQUARE-FOOT INDUSTRIAL BUILDING IN HUNTINGTON BEACH
Huntington Beach, CA (September 23, 2015) – Mike Bouma, Senior Vice President and Paul Caputo, Vice President of Voit Real Estate Services’ Anaheim office successfully directed the $6,052,284 million sale of a 41,454 square-foot industrial warehouse in Huntington Beach, on behalf of the Seller, a real estate partnership. The buyer, a distributor of educational supplies, will use this property for warehousing, distribution, light manufacturing and administrative office use, according to Mike Bouma and Paul Caputo.
“This is a record sale price for a second generation building in the area. It’s also an indication of where prices are headed with the lack of available buildings, high demand to purchase and continued low interest rates,” according to Mr. Caputo.
The property is located at 5422 Argosy Avenue in the desirable North Huntington Beach area. The property is adjacent to Corporate neighbors such as Boeing, Quicksilver, Cambro Mfg., C&D Aerospace, and Cleveland Golf.
About Voit Real Estate Services
Voit Real Estate Services is an 11 office commercial real estate firm that, through its brokerage and real estate management professionals working together, provides strategic property solutions tailored to clients’ needs. Combining more than 40 years of expertise in brokerage, investment advisory, financial analysis, market research, real estate management and tenant advisory, Voit provides clients with forward looking strategies that create value for their assets and portfolios.
Voit is a privately held, debt-free firm that has successfully navigated numerous market cycles since 1971 and currently employs more than 250 people. Voit has owned, developed and managed over 64 million square feet of commercial real estate, participated in $1.4 billion of construction projects and completed over $42.5 billion in brokerage transaction volume. Further information is available at www.voitco.com.
