50.2 F
Laguna Hills
Tuesday, Feb 18, 2025
-Advertisement-

Irvine Warehouse Sold for Nearly $10 Million

Outlook Bullish for Orange County Industrial Market

An industrial building in Irvine has changed hands for $9.5 million, or $380 per square foot, it was announced today.

The off-market transaction was brokered by Marcus & Millichap, with a 30-day escrow. The undisclosed buyer paid cash for the 25,000-square-foot building, as part of a 1031 exchange.

The single-level warehouse, built in 1978, is located at 1842 Barranca Pkwy., sits on 1.3 acres, and features more than 9,000 square feet of office space, per CoStar data.

Warren Loth, Tyler Gebauer and Ian Diaz of Marcus & Millichap brokered the deal.

The seller was also undisclosed.

JLL, in its most recent report on the local warehouse market, was bullish on industrial activity within Orange County.

“Orange County’s unique blend of evolving manufacturing ecosystem and highly skilled workforce will continually attract innovative companies, which should reinforce the long-term economic vitality in Orange County,” JLL Senior Analyst Chi Qi said in his industrial report for the fourth quarter of 2024.

Want more from the best local business newspaper in the country?

Sign-up for our FREE Daily eNews update to get the latest Orange County news delivered right to your inbox!

Parimal Rohit
Parimal Rohit
Parimal M. Rohit has nearly two decades of experience in journalism and recently covered Texas real estate for CoStar News and Austin Business Journal. He was also the editor of The Log, covering Southern California's and Northern Mexico's maritime and environmental spaces. Throughout his career, Rohit has also covered the Los Angeles Lakers, Los Angeles Dodgers, Bollywood and California politics. Rohit won 12 reporting awards from the San Diego Press Club, including best environmental reporting and best essay/commentary, and the Fort Worth chapter of the Society of Professional Journalists. His hobbies include photography, podcasting, travel and filmmaking. He is also the recipient of several fellowships, including one through the USC Annenberg Center for Health Journalism and another through the RK Mellon Foundation.
-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-
-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-