MIG Real Estate Buys Orange County Industrial Park
The property comprises six multi-tenant buildings.
Completed in 1975, Mission Viejo Business Center comprises six multi-tenant industrial buildings on 7.7 acres. Image courtesy of Cushman & Wakefield
MIG Real Estate purchased Mission Viejo Business Center, a 100,295-square-foot industrial park in Mission Viejo, Calif. DWS sold the asset, according to CommercialEdge data. Cushman & Wakefield brokered the transaction, working on behalf of the seller.
Completed in 1975, Mission Viejo Business Center comprises six multi-tenant distribution and warehouse buildings on 7.7 acres. The property features a variety of bay sizes, 10-foot to 16-foot clear heights, grade- and dock-high loading doors, concrete truck courts to support the needs of various mid-size industrial tenants, climate control, insulated ceilings, sky lights and approximately 270 parking spaces. The facility also includes around 10,000 square feet of retail space.
Located at 23811-23891 Via Fabricante within the Orange County market, Mission Viejo Business Center is close to interstates 5 and 405. At the time of the sale, the property was 99 percent leased to 43 tenants, including Mission Viejo Business Center includes Goodwill, South Country Vapors, Amazing Cabinetry, OpenCorporates, State Farm, Sunrise Travel, ProCare Services and AlphaGraphics.
Executive Vice Chairmen Jeff Chiate, Rick Ellison and Jeffrey Cole, Vice Chairman Bryce Aberg, Associate Mike Adey and Senior Associate Zach Harman of Cushman & Wakefield’s National Industrial Advisory Group represented the seller.
Recently, MIG sold Technology Commerce Center, a fully occupied, Class A industrial park totaling 138,692 square feet in Mesa, Ariz. Libitzky Property Cos. purchased the asset for $25.4 million.
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