A 128,953-SF industrial property located at 500 West Collins Avenue in Orange, was sold for $31,200,000. The asset, encompassing 6.03 acres, reflects a price of approximately $242 per square foot, indicating a discount from its previous sale of $37 million in 2022. The transaction occurred within a market where Orange County industrial fundamentals are currently experiencing pressures, with a rising vacancy rate of 6.7% and a decrease in year-to-date occupancy exceeding 2 million square feet.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $31,200,000
• Address: 500 West Collins Avenue
• Market: Orange
• Acres: 6.03
• Square Footage: 128,953
• Price per Square Foot: $242
• Buyer: Liangchen Yao
• Seller: Brian Kingston - Brookfield Properties
• Brokers: Sean Ward & Keith Greer - CBRE

This transaction involved Liangchen Yao as the buyer and Brian Kingston representing Brookfield Properties as the seller. The deal was facilitated by brokers Sean Ward and Keith Greer from CBRE, highlighting the involvement of reputable local parties in the real estate sector.