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Dunleer Grabs Santa Ana Industrial Property as Part of SoCal Portfolio
Los Angeles-based Dunleer has acquired 4404 W. 1st St. in Santa Ana, CA as part of a Southern California Industrial Outdoor Storage (IOS) portfolio. The firm also purchased a storage yard on Artesia Boulevard in Bellflower. The total value of the transaction was $13 million.
The Santa Ana asset is just under 3 acres in size and includes a 4,000-square-foot office/industrial building. Located in a key infill Orange County location, the property is proximate to several freeways as well as John Wayne Airport. Dunleer has commenced site improvements including clean-up and repaving to attract a new user.
Dunleer’s Founder BJ Turner said, “We are bullish on IOS assets for a number of reasons. IOS is mission-critical real estate for a wide variety of tenants, they are generally easy to manage and lease and are a solid source of revenue with higher average cap rates compared to distribution centers.”
- ◦Sale/Acquisition
