Turner Real Estate Investments Acquires Stevens Industrial Park From TA Realty For $15.51M

The asset involved in the transaction is a fully leased industrial complex known as Stevens Industrial Park. This property encompasses four addresses: 201, 241, 301, and 302 East Stevens Avenue, situated in the Santa Ana market. The sale price for the property was $15,510,000, and it has a total square footage of 51,700, resulting in a price per square foot of $300.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $15,510,000
• Square Footage: 51,700
• Price per Square Foot: $300
• Buyer: Rusty Turner - Turner Real Estate Investments
• Seller: James O. Buckingham & Michael R. Haggerty - TA Realty
• Brokers: Aaron Banks, Andrew Briner, Bret Hardy, Jim Linn, Kevin Shannon & Luke Easton - Newmark
• Market: Santa Ana

Newmark facilitated the sale, which highlights a value-add opportunity due to below-market rental rates. The transaction transitions ownership from TA Realty to Turner Real Estate Investments, marking a significant movement in the Orange County industrial market, which is currently showing mixed trends, including rising sales volumes and declining leasing activity.