Garden Grove Space Sells for $3.2 Mil

GARDEN GROVE, CA-A 44,000-sf Garden Grove industrial facility has been snapped up, as demand for industrial space continues at a steady pace in Orange County.

The buyer, DMW Financial Services, has paid $3.2 million for the building. The concrete tilt-up facility, which is located at 7012 Belgrave Ave, will be entirely occupied by DMW.

Mitch Zehner and Mike Bouma of Voit Development Co. represented the seller, Voit Development Co. Heger Realty represented the buyer.

The county’s industrial market has remained fairly stable as demand continues and supply slows down. There was 3 million sf of space under construction in the second quarter of 2001, a 27% decrease from the second quarter of last year, according to a recent report published by Voit Commercial Brokerage. Meanwhile, the industrial rate was at 5.59% for the second quarter of 2001. That figure is nearly the same as the second quarter of 2000, when the rate was 5.52%.