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Orange Bakery Acquires 54,088 SF Industrial Facility In Irvine For $30.7 Million From Randy Kendrick
SOLD
$30,700,000
California
See Similar DealsIndustrial54,088 SF
Sold 07/28/2025
SOLD
Orange Bakery Acquires 54,088 SF Industrial Facility In Irvine For $30.7 Million From Randy Kendrick
17751 Cowan
See Similar DealsIndustrial54,088 SF
Sold 07/28/2025
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$567
Total Square Footage:54,088 SF
Transaction Type:Sale
Orange Bakery acquired a newly built industrial facility at 17751 Cowan Ave. in Irvine. The asset spans 54,088 square feet and was purchased for $30,700,000, equating to a price per square foot of approximately $568. The transaction reflects a strategic move by the buyer amid a softening industrial market in Orange County.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $30,700,000
- Buyer: Orange Bakery
- Seller: Randy Kendrick - Xebec Realty
- Broker: Sean Ahern - Lee & Associates
- Address: 17751 Cowan Ave, Irvine
- Square Footage: 54,088
- Price per Square Foot: $568
This transaction was facilitated by Sean Ahern from Lee & Associates, representing the buyer in this significant deal. The acquisition indicates strong demand for high-quality, purpose-built industrial assets, indicating a focused growth strategy by Orange Bakery in the current market conditions.
Players
BROKERAGE
SELLER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,637,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$109,070.62
Cash-on-Cash Return-1.27%
Monthly Debt Service$145,533.66
Annual Debt Service$1,746,403.95
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