Sellers' Market in Industrial
CT Realty EVP Marc Belluomini tells us it’s absolutely a seller’s market in OC, IE, and all of SoCal industrial for that matter. It’s a simple equation: demand is outpacing supply, and demand is strong because logistics firms are expanding. Recently Aliso Viejo-based CT sold a 225k SF warehouse/distribution building, 16875 Heacock St, in Moreno Valley to First Industrial Acquisitions of Chicago for $10M. The 14-acre property is on the grounds of the March Air Reserve Base within the larger airport-related development known as the March Inland Port.
The Heacock facility features 32 docks with 32-foot minimum clear height (perfect for you and 31 of your tallest friends) and 142 trailer parking stalls. About a year ago, CT inked a five-year lease with DDI Distributions for all of the building, making it an especially desirable property for investors. Though the market generally favors sellers, Marc says, that doesn’t mean CT isn’t looking to buy if the deal's right, especially properties that support the twin ports of Los Angeles and Long Beach.
