In Orange County’s industrial market, everything sells.
The strong demand for industrial product has pushed vacancy rates to historic lows (sound familiar?), and as a result, industrial investment opportunities are limited. When properties do come to market, investors strike. This was the case in the sale of two separate small box industrial facilities in Newport Beach. The two assets—both around 30,000 square feet—traded hands in off-market transactions to private investors looking for investment opportunities in the market.
The Lee & Associates brokers who worked on both deals say that this is part of the new normal of robust industrial demand.