JLL has completed the sale of a fully entitled 12.14-acre industrial site, located on East Vermont Avenue in Anaheim, to Western Realco for $40.7 million. Western Realco will immediately begin demolition and construction to develop a new, 256,046-square-foot Class A industrial building. Construction is expected to be completed late 2027.
JLL’s Zach Niles, Louis Tomaselli and Steve Wagner represented the seller, Rexford Industrial, and buyer Western Realco. JLL has also been retained to market the new development for lease or sale. It can accommodate a broad range of uses, including logistics, manufacturing, assembly, food processing and temperature-controlled storage, among others.
“We see an opportunity to deliver a new, Class A building to the market in a space where’s there’s currently very limited inventory and growing demand across multiple sectors,” said Jeremy Mape, principal at Western Realco. “The building’s location, size and versatility, paired with the City of Anaheim’s business friendly environment and public power utility, is an opportunity we just couldn’t pass up.”…