Avison Young announces acquisition of a four-building industrial business park in Orange County9 Apr 2020
Irvine, CA – Avison Young has announced the acquisition of Yorba Linda Business Center, a four-building, 115,760-square-foot industrial property located at 22343 to 22349 La Palma Avenue in Yorba Linda, CA.
Avison Young Principal Alan Pekarcik and Senior Associate Chris Smith who are based out of the firm’s Orange County office represented the buyer, an Orange County-based private investor who was completing the upleg of a 1031 exchange. The seller, a Bay Area-based investment company, was represented by CBRE.
“We identified a well-maintained and managed asset in a very tight infill market with high barriers to entry on behalf of our buyer client,” said Smith. “This is a highly desirable Orange County property and our Avison Young brokerage team diligently tracked the asset and identified this as a good fit all-around for our client who plans to manage and continue multi-tenant operations at the property.”
Built in 1998 and situated on 9.13 acres, the property is 93 percent occupied by a diverse mix of industrial, office and flex users. Yorba Linda Business Center features 14-foot clear height, 66 ground-level doors, and 400 car parking spaces. It is surrounded by a large number of restaurants, retail, and services and is approximately one mile from the 91 freeway and 18 miles from the John Wayne Airport.
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises approximately 5,000 real estate professionals in 108 offices in 14 countries. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors.
Avison Young is a 2019 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for eight consecutive years.
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For more information:
• Darcie Giacchetto, Places Public Relations: 949.278.6224