Guthrie Delivers 63 Units to Often-Underserved Market Segment

Irvine-based Guthrie Development Company recently sold 63 individual units across three industrial properties in Orange County for a combined total of $61.5 million. The three properties include a 45-unit industrial business park in Fullerton, a 12-unit industrial property in Costa Mesa and six newly divided industrial condominiums in Irvine.

County absorption rates were higher in third quarter 2021 than rates in 2004 and vacancy was 2 percent, also matching historic lows.

“The industrial sector overall is thriving, and the Orange County market in particular has experienced skyrocketing demand in recent months,” says Rob Guthrie, president at Guthrie Development Company. “Leveraging our deep experience in executing upgrades to enhance and modernize industrial properties as well as condominium mapping, we were able to deliver 63 high-quality units to the often-underserved segment of the market seeking for-sale smaller industrial spaces.”