Duke Realty Grabs 11-Acre Site, Potential Redevelopment
Duke Realty has acquired a 10.7-acre industrial site in Los Alamitos, CA, purchasing the property from Don Wilson Builders for just over $77 million. Cushman & Wakefield, which brokered the sale, says the property consists of several existing buildings on eight parcels, and is a future redevelopment site as a Class A industrial project.
“This industrial site is strategically located on the border of Los Angeles and Orange County, convenient to the busiest port complex in North America, two major airports and a massive population center,” according to the Cushman & Wakefield team of Kyle McGillen and Rick Ellison who represented the buyer in the transaction.
The firm’s industrial market report indicates that Orange County maintained a tight vacancy rate of 1.5% in the 2nd quarter, and new leasing activity picked up as well. McGillen noted that occupiers continue to seek out well-located industrial space.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.