Alere Property Group Buys North Orange Industrial Park for $22M
Alere Property Group nabbed North Orange Industrial Park in an off-market transaction, paying roughly $22 million for the 138,970-square foot industrial business park. Voit Real Estate Services’ Mike Cargile and Loren Cargile represented the buyer in the deal, while Newport Beach, CA-based Real Estate Enterprises represented the private seller.
The property consists of three multi-tenant industrial buildings featuring a variety of ground-level unit sizes and multi-tenant dock-high spaces. It is 100% occupied by a mix of light industrial and distribution tenants.
“[Alere] was seeking to expand its presence in the North Orange County market and acquire a strong multi-tenant industrial property in a great location that would offer long-term value,” said Mike Cargile, adding that the asset is an easy commute to L.A. and the Inland Empire, and is ideal for distribution companies seeking easy access to vendors and customers.