Cypress Industrial Sale has $32 Mil Price Tag

An industrial investment sale in the northwest OC city of Cypress closed at a price of $215/sf, in a recent T-I-C acquisition. The property, Mammoth Cypress II, is a four-building, 149.9k sf Class B office project located at 5796, 5815, 5836 and 5856 Corporate Ave, near the intersection of Valley View St and Katella Ave. The buildings were purchased by USA Build LLC for a total price of $32.3 mil.

Mammoth Cypress II is well located in West Orange County with immediate access to Interstates 5 and 405, the Garden Grove (22) and Riverside (91) Freeway. The buildings were constructed in 1990, with the exception of 5796 Corporate Avenue, which was built in 1988. At the time of the sale, the property was 100 percent leased.

"Mammoth Cypress II houses a plethora of key tenants like the State of California, Pacificare Health and Rockwell International," said Alan Pekarcik, Senior Vice President of Voit Commercial Brokerage's Irvine office. "In addition, the buildings provide office space for construction, telecommunications and electronics corporations."

Pekarcik, along with Voit’s Dan Vittone and Jeff Williams, represented Mammoth Equities Capital Group LLC, the asset manager for the tenant-in-common owners of record. Simon Dillon of CB Richard Ellis' Newport Beach office assisted the Voit team. Rick Heller of Urban West Commercial Real Estate repped the buyer in the transaction. This transaction represents the third sale of the office park brokered by Pekarcik and Vittone.

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source: rentv.com