The Walt Disney Co.’s $124 million acquisition of an Anaheim warehouse stands as the largest industrial purchase of the year and surpasses any similar transaction recorded in the second half of 2024.
Disney bought the 406,787-square-foot warehouse from JPMorgan Chase & Co., paying $305 per square foot, according to CoStar data.
The deal for the two-building warehouse at 1501 and 1601 E. Cerritos Ave. in Anaheim was finalized on Jan. 10, according to CoStar.
Disney had previously occupied the building as a tenant. The Burbank-based mass media and entertainment company will continue to use the warehouse space to store parade floats and seasonal decorations used at its Disneyland theme parks a few blocks away.
A Disney-themed blog said the warehouse property was formerly the Company D and Team Center, where Disney cast members could buy Disneyland merchandise.
JPMorgan Chase & Co. bought the warehouse space, built in 1968, in 2018 for an undisclosed amount.
Disney representatives did not return requests for comment.
Disney also owns various properties in the Anaheim area, including a nearly 357,000-square-foot office building at 700 W. Ball Road and a 7,939-square-foot parking garage at 1313 S. Disneyland Drive, per CoStar data.
Largest Industrial Transaction
Disney’s purchase of 1501 and 1601 E. Cerritos Ave. eclipses the largest industrial transactions reported during the second half of 2024 and easily is the largest of the year, so far.
According to a January industrial market report by Cushman & Wakefield, and ARES Management bought 25892-25902 Towne Centre in Foothill Ranch from Morgan Stanley & Co. LLC. The 310,067-square-foot industrial property sold for $96 million, or $310 per square foot, in December 2024, according to CoStar data.
The largest industrial property sale in the third quarter of 2024, per Cushman & Wakefield and CoStar, was Staley Point Capital’s purchase of 2325-2335 Moore Ave. in Fullerton. The Los Angeles-based real estate investment firm bought the 162,000-square-foot Fullerton industrial property for $30.1 million, or $186 per square feet.
DisneylandForward
Disney is doing more than buying up land in Anaheim.
Last spring, the company earned approval from the city for its DisneylandForward project, a development agreement that allows the Disneyland Resort to build new attractions, hotels and parking within the Disney-owned site of 500 acres over the next few decades.
Disney would pay $39.6 million to take control of some infrastructure surrounding Disneyland: Magic Way between Disneyland Drive and Walnut Street, entryways at Clementine Street, and Hotel Way.
Part of the $39.6 million would also pay for the removal of planned extensions at Clementine Street and Gene Autry Way.
