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Lee & Associates Orange Facilitates $3.38M Sale of Industrial Property in Fullerton
In a notable transaction, Lee & Associates has successfully brokered the sale of a prime industrial property at 1041 S Placentia Avenue, Fullerton, CA for a total of $3,380,000. This 9,982 square foot facility is characterized by its high-quality industrial space, including features such as a 19-foot clearance height, a sprinkler system, and two ground-level doors, designed efficiently for diverse industrial and manufacturing uses.
Strategic Location and Versatility of Industrial Real Estate
The strategic location of this property in Fullerton provides excellent access to major transportation corridors, enhancing its appeal for prospective businesses. The buyer's intention to convert the space into a state-of-the-art dental laboratory signifies the growing trend of repurposing industrial facilities to meet contemporary operational needs. Companies are increasingly seeking versatile spaces that can accommodate modern requirements while remaining in accessible locations.
Market Strength and Future Implications
This sale underscores the continued robustness of the industrial market in North Orange County. John Son, a Principal at Lee & Associates, remarked on the versatility of well-located assets amidst evolving user requirements. As industries transform and adapt, properties that can be integrated into new operational models stand to benefit significantly in terms of value and functionality.
Closing Thoughts on the Transaction
The seller facilitated a smooth transaction, demonstrating the cooperative spirit that often characterizes the commercial real estate industry. Lee & Associates' role was pivotal, with professionals like John Son and Christopher Destino providing strategic insights and support throughout the process. The evolving landscape of industrial properties continues to adapt, presenting valuable opportunities for investment and development.
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