A 32,850-square-foot manufacturing building in San Clemente recently changed hands for $12.9 million.
San Clemente-based Johnston Pacific Commercial Real Estate Inc. brokered the sale of the industrial property located within Talega Business Park, calling it a benchmark price for South Orange County industrial real estate.
According to public records, the seller was Girard Holdings LLC. The buyer is Odyssey Logistics, a multimodal logistics company based in Charlotte, North Carolina.
The $12.9 million sticker calculated to be nearly $393 per square foot.
“This transaction reflects the continued demand for quality industrial space in South Orange County, and we’re proud to have helped our client achieve a successful outcome,” a Johnston Pacific spokesperson told the Business Journal in an email.
The industrial building, located at 1361 Calle Avanzado in San Clemente, was built in 2005. The building did not have any tenants at the time of the sale, according to CoStar data.
Odyssey, A Supply Chain Company
The grant deed for the sale shows Fullerton-based Port Properties LLC as the buyer. CoStar says Port Properties is part of Odyssey, a logistics solutions provider.
Odyssey was founded in 2003 as a chemical logistics company with five employees. The company has since grown, employing thousands of people and serving several industries. Odyssey opened its new headquarters in Charlotte earlier this year. The company now has 82 locations around the world and generates more than $1 billion in annual revenue.
Major industries served by Odyssey include chemicals, food and beverages, metals and packaged freight.
Johnston Pacific was founded in 1991 and represents commercial real estate clients in South Orange County.
Increased Activity in San Clemente
Several deals recently closed in San Clemente, which was recently selected to host the surfing competition during the 2028 Summer Games.
Corona del Mar-based Space Investment Partners LLC, a real estate company headed by Mark Moshayedi, bought a retail center at 2727 Via Cascadita in San Clemente for $8.9 million, or $357 per square foot.
Moshayedi’s Space Investment Partners bought the retail center at a 5.39% cap rate.
Casual Cascade De LLC, represented by Tony Azzi of The Azzi Group and Rabbie Banafsheha of Marcus & Millichap, was the seller.
The center at 2727 Via Cascadita sits on 2.81 acres and is about a mile from the Outlets at San Clemente. California’s Department of Motor Vehicles is the center’s anchor tenant.
An undeveloped land parcel adjacent to the retail center could accommodate a new development of up to 10,000 square feet. Any future development would have to be approved by the San Clemente City Council.
Another industrial warehouse at 971 Calle Amanecer in San Clemente, sold for nearly $6.5 million in April, according to CoStar data.
A pair of Irvine-based companies announced in March they were making exterior and interior upgrades at an assisted living property in San Clemente.
MBK Senior Living and IRA Capital announced they will be making building upgrades at San Clemente Villas by the Sea, a 137-unit assisted living and memory care facility at 660 Camino de los Mares in San Clemente.
Exterior and interior renovations began in March.
