Investor, Owner-Users Close $20M Industrial Sales

COSTA MESA, CA-Buyers here and in two other Orange County cities have closed five separate sales that demonstrate the appetite for industrial properties by both investors and owner-users. The largest of the deals was the $9.1 million sale of five office buildings totaling 82,911 square feet at the Copper Tree Business Park at 151 Kalmus Dr. in Costa Mesa.

The buyer of the Copper Tree buildings was the PRES Cos. of Newport Beach, according to the VA Property Group of Lee & Associates, which represented both PRES and the seller, the Brookhollow Group. Brian Garbutt and Allen Basso, senior vice presidents with the LEE VA group in Irvine, note that PRES closed the all-cash transaction in 10 business days.