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94,250SF Industrial Property Sells for $11.3M

94,250SF Industrial Property Sells for $11.3M

SANTA ANA, CA—Lee & Associates has brokered a 94,250-sq.-ft. industrial property sale at 1900 Carnegie in Santa Ana, Calif. One Morgan LLC purchased the class-A property from Rilco-Essex LLC for $11.3 million.

“With industrial availability at scarce levels, buyers are becoming more aggressive in this infill market,” said Vice President Dale Camera of Lee’s Irvine office, in a statement. “Local economic indicators are pointing in a positive direction and historically low interest rates are impacting the commercial and residential market with an influx of buyers.”

Camera as well as Senior Associate Jason Helmick, represented the buyer. CBRE’s Chip Wright represented the seller.

The dual-tenant building, located in the Irvine Business Complex, was constructed in 2000 and has 60,000 sq. ft. of leasable space available.

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