Prologis Inc., the country’s largest owner of warehouse and distribution properties, has plans for another Orange County industrial development.
The San Francisco-based company is building a new 200,000-square-foot facility on a nearly 10-acre site it acquired in Orange, about a mile east of Anaheim’s Honda Center, in 2016.
The firm (NYSE: PLD) paid $16.8 million, or about $400 per square foot, for the site at 534 W. Struck Ave., which currently holds a 41,952-square-foot manufacturing building home to Nursery Supplies Inc.
That property, which was built in 1975, will be demolished to make way for the new free-standing industrial building that will include a 10,000-square-foot office, a 136-space parking lot and 48 stalls for trailer parking.
Construction is being built on a speculative basis and is expected to wrap by the end of 2021.
CBRE Group Inc.’s Ben Seybold, Sean Ward, Keith Greer and Kenneth Patricia have the listing for the project.
Fullerton, Anaheim
The new project comes as Prologis finished leasing its portion of Beckman Business Center, a Fullerton industrial campus that opened about two years ago.
It paid $123.7 million near the start of 2019 for close to 663,000 square feet of buildings at the site, the largest new industrial development in OC in recent years.
The two largest buildings Prologis bought are now accounted for, with recent deals inked earlier this year by Total Transportation and OneSource.
The final Prologis-owned building that has yet to be leased is 4260 N. Harbor, a 141,000-square-foot warehouse facility; another full-building deal is likely, according to brokers.
Prologis has also been redeveloping a 12-acre site it bought in 2019 in Anaheim, just north of the (91) Freeway.
The site that was long home to a 144,000-square-foot showroom and warehouse that held a Fry’s Electronics.
It’s being converted from retail to industrial, and is being leased to Amazon.
