St. Joseph Hospital-Orange is adding warehouse space near its campus.
The hospital signed a seven-year lease for a 37,928-square-foot building at 654 N. Hariton St. Terms weren’t disclosed.
“It’s a warehouse for all of the maintenance and operation of the hospital,” said Louis Tomaselli, a senior vice president at the Orange office of Voit Commercial Brokerage LP.
Tomaselli and colleagues Mitch Zehner and Seth Davenport represented Harry S. Rinker Investments, the building’s landlord.
Eileen Doody, a broker with PM Realty Group in Newport Beach, represented the hospital.
The warehouse is less than a mile from St. Joseph-Orange’s campus, according to Tomaselli. It was built in 1980.
St. Joseph now leases warehouse space in a building owned by Chapman University, Tomaselli said.
“Chapman University needs the space,” he said.
St. Joseph is planning to move warehouse operations to the newly leased building in the next few months, Tomaselli said.
Like other sectors of Orange County’s real estate market, warehouse space is tight. The vacancy rate for warehouses is running about 4%, the lowest since tracking began in 1982, Tomaselli said.
