Wohl Sells Two Industrial Buildings

LAKE FOREST, CA-Lollipop Land Co. acquired two industrial buildings totaling 45,257 sf for $5.4 million from Wohl Investment Co. at Wohl’s Dimension Business Center, according to Voit Commercial Brokerage.

The properties, both multi-tenant buildings, are at 26212-26242 Dimension Drive, with individual tenant units ranging from 680 to 6,300 sf. Paul Caputo, Mike Bouma, Mike Hefner and Jimmy Vames of Voit represented the seller. Vames also represented the buyer.

A new report by Voit Commercial Brokerage suggests the Lake Forest industrial submarket is benefiting from a stabilizing of the Orange County industrial market, where rents have flattened at 58 cents per sf per month triple net and vacancy in the county has stabilized at under 10%. The Lake Forest submarket has a high concentration of the small and medium-sized industrial buildings like those at Dimension Business Center.

Irvine, Calif.-based Wohl, which acquired the Dimension center from Los Angeles-based Kilroy Realty, redevelops and manages commercial properties in Southern California. Its holdings include industrial parks and office properties, retail and specialty centers, and R&D properties.