The City Of Anaheim Acquires 522 East Vermont Avenue Industrial Property From Anaheim East Vermont For $22M

The industrial property located at 522 East Vermont Avenue spans 87,531 square feet and was sold for $22 million, equating to a price per square foot of $251. The transaction took place in the Anaheim market, which is currently navigating challenges in the North County submarket.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $22,000,000
• Buyer: The City of Anaheim
• Seller: Anaheim East Vermont
• Square Footage: 87,531
• Price Per Square Foot: $251.34

The City of Anaheim's acquisition was aimed at bolstering municipal industrial holdings in a market where vacancy rates have reached 5.5% and negative absorption has been an ongoing challenge despite the strong leasing of smaller-format buildings.