Cushman & Wakefield has brokered the sale of a 100,295 square foot industrial business park in Mission Viejo (Orange County), California.
Mission Viejo Business Center consists of six multi-tenant industrial distribution/warehouse buildings on approximately 7.65 acres.
Situated at 23811-23891 Via Fabricante, the property is 99 per cent leased to 43 tenants and was acquired by MIG Real Estate.
Cushman & Wakefield Executive Vice Chair Jeff Chiate, Vice-chair Bryce Aberg, and colleagues Jeffrey Cole, Rick Ellison, Mike Adey, and Zach Harman from the company's National Industrial Advisory Group in Southern California represented the seller - a global investment advisory firm - in the transaction.
The project provides a distinguished corporate image, stable cash flow, and below market rates yielding attractive value-add potential,” says Chiate..
Mission Viejo’s solid market fundamentals, together with the project’s exceptional quality and financial profile, created a great investment opportunity in one of Orange County’s most sought-after submarkets.
“The project is centrally located within the Mission Viejo submarket servicing a broad range of tenants and local companies seeking highly functional and divisible industrial space.
The property also offers a variety of bay sizes with clear height of between 10 and 16 meters, grade and dock-high loading doors, and concrete truck courts to support the needs of various mid-size industrial tenants, a segment we continue to see strong demand,” adds Aberg.
Originally built in 1975, Mission Viejo Business Center resides in a highly desirable location with proximity to Interstates 5 and 405 and the John Wayne Airport, providing convenient regional, national, and international access, including nearby Los Angeles and San Diego.
Orange County also offers a robust amenity base, including world class beaches and outdoor activities also in proximity of the property.
