1523 & 1547 W. Struck Ave., Orange
Address: 1523 & 1547 W. Struck Ave., Orange, CA
Description: A ±42,750 Sq. Ft. Multi-Tenant Business Park
Buyer: The Wilson Family Trust
Seller: MCA Realty
Assignment: Identify a Buyer for a centrally located multi-tenant industrial park in Orange, California with in-place rents that were significantly below market. The low in-place income created a significant challenge to secure financing in light of aggressive interest rate increases and a highly volatile capital market.
Result: Developed and implemented an aggressive marketing program that generated multiple offers to purchase and created a competitive bidding environment. Ultimately the team identified an all-cash buyer with a 1031 Exchange and sold the property at a near record pricing of $13,500,000 ($315.78 PSF) which represented a 4.17% capitalization rate on the project's year one net income.
Total Value of the Transaction: $13,500,000