Tag Archive for: Orange County Industrial Building

VOIT REAL ESTATE SERVICES DIRECTS THE $10,528,000 SALE OF A 66,000 SQUARE-FOOT INDUSTRIAL BUILDING PROPERTY IN GARDEN GROVE, CA

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12621 Western

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.

Harley Davidson Finds Needle in Haystack

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Harley Davidson_building2

March 24, 2014 | By Carrie Rossenfeld

WESTMINSTER, CA—The motorcycle manufacturer leases 41,939 square feet on a 10-year lease for showroom space at Goldenwest Circle, a location that meets the tenant’s needs for freeway frontage.

Harley Davidson of Westminster/Huntington Beach now has a showroom at 15044, 15051 and 15080 Goldenwest Circle here. The motorcycle manufacturer has signed with owner Realty Associates Fund X LP a 10-year lease valued at $3.7 million for the space, which consists of three buildings totaling 41,939 square feet.

The showroom, which provides excellent frontage on the 405 Freeway, was leased as the result of a complex transaction involving Voit Real Estate Services’ Anaheim-based brokers Mike Bouma, SVP; and Paul Caputo, VP. “Our market knowledge and years of experience were put to the test,” says Caputo.

The three adjacent buildings will allow for expansion of the showroom, service area and additional motorcycle storage while not losing freeway exposure. According to Craig Franz, president of Harley Davidson of Westminster/Huntington Beach, “The Voit brokers were able to find a freeway-frontage facility that met our very specific location and size requirements prior to the facility coming to the open market—a virtual needle in a
haystack.”

The Voit team negotiated a favorable long-term lease, coordinated and assisted with streamlining Harley Davidson’s use permits with the city and backfilled its previous facilities, with no down time. “The myriad of moving parts all came together perfectly and helped us focus solely on our move, as well as the growth of our business,” adds Franz.

Bouma recently spoke with GlobeSt.com about the Orange County industrial market, saying that overall market tightening is already well underway. Bouma noted that the tremendous amount of capital pursuing deals on both an owner/user and investor basis is driving industrial prices up substantially.

“Orange County industrial investors need to be open-minded in today’s market,” Bouma says. “A successful investor in the current market will be prepared to take on lease-up risk, down time and rollover expenses in order to be able to make a deal happen.”

Bouma also noted that tenants, too, must be flexible in today’s tight industrial market. “Industrial tenants should give themselves plenty of time in advance of their lease expiration in order to locate and negotiate on a new facility.” He added that there are simply fewer options in the market compared to three to five years ago.

Alternatively, Orange County industrial owners are now in a strong position, according to Bouma. “We are seeing much shorter lease-up time and fewer tenant concessions in today’s market; an ongoing indication that the market is quickly improving.”