
Lake Forest Industrial Trades for 4.75% Cap Rate
A high-image 33,805-square-foot industrial building in Lake Forest, CA was acquired by a Beverly Hills family buyer for $9.4 million at a capitalization rate of 4.75%.
Built in 1997 at 25871 Atlantic Ocean Dr., the concrete tilt-up structure sits on nearly two acres of land zoned for traditional light industrial and manufacturing use. It is occupied by an online retailer that plans to remain in the building.
Colliers International’s Richard Schwartz and Joey Reaume represented the buyer. The seller was represented by Lee & Associates.
Colliers’ Schwartz says, “When we found the building listed for sale, we were as surprised as anyone since industrial properties in Orange County, especially occupied buildings with long lease terms remaining in central urban infill locations like Lake Forest, are a rarity these days. At this price and at this cap rate, it was a simple equation for our client, who when informed of the opportunity said, “Buy, buy, buy!”
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- ◦Sale/Acquisition