Cypress Industrial Complex Sells for $60mMonday, February 10, 2014
A two-building industrial park in Cypress that holds the headquarters of apparel company Vans Inc. has traded hands for $60 million.
An affiliate of San Francisco-based investor Stockbridge Capital Group LLC bought the Cypress Distribution Center, a 543,431-square-foot industrial property located at 6550 Katella Avenue and 11130 Holder Street.
Boston’s Colony Realty Partners sold the industrial park, which is 100% leased. In addition to Vans, which leases about 127,000 square feet of space, tenants at the buildings include Empire Warehousing and Integrated Alarm Service.
Stockbridge paid about $111 per square foot for the buildings.
The deal was brokered by Kevin Shannon, Darla Longo, and Barbara Emmons from CBRE Group Inc., as well as Cushman & Wakefield Inc.’s Rick Ellison and Tom Sheets.
The sale is the largest industrial transaction reported in Orange County so far this year.