7272-7274 Lampson Ave 78,777 SF Industrial Building Garden Grove, CA 92841 $36,224,125 CAD ($459.83 CAD/SF)

RECENTLY RENOVATED MULTITENANT INDUSTRIAL OPPORTUNITY WITH MAJOR UPSIDE
ATTRACTIVE INDUSTRIAL OFFERING | The offering presents an incredible opportunity to acquire a two-tenant, recently renovated, industrial opportunity in Garden Grove, California. The property, consisting of 78,777 SF is located withing Garden Grove Industrial Park, a prominent industrial pocket in Orange County, home to some of OC’s most prominent industrial tenants and users.

STABILIZED WITH UPSIDE | The property is 100% leased to two-tenants with a WALT of 3.7 years. In-place rents are 9.4% below market levels and present upside at lease expiration to capture additional square footage from a recent BOMA re-measurement.

STRONG TENANT ROSTER | CCS has been at this location for their metalwork and stainless steel fabrication, which compliments another facility they have down the street. Lee Bro Food Services, Inc. recently signed an eight (8) year lease as expansion space to the facility they occupy immediately adjacent along Lampson.

EXCEPTIONAL MARKET FUNDAMENTALS
TOP INVESTMENT MARKET | Orange County is the top investment market in the Americas in 2024 among investors, reflecting the county’s strong absorption, low vacancy and sustained rent growth. With strong employment and an attractive quality of life, Orange County is a highly sought-after gateway market.

TIGHT MARKET FUNDAMENTALS | Orange County has one of the tightest industrial markets in the country, with a vacancy of 2.9% in 2Q24 (2.2% vacancy in Garden Grove). Investors and tenants entering the Orange County industrial market face an incredible challenge, with limited options despite growing demand.

STRONG PROJECTED GROWTH | According to CBRE Econometric Advisors, OC is projected to add 72,000 new jobs over the next 5 years. Orange County’s industrial rent growth is projected to be among the highest in the country, at more than ±30% over the next five years.

ATTRACTIVE IN-FILL LOCATION NEAR PORTS
UNBELIEVABLE PORT ACCESS | The Ports of Long Beach/Los Angeles together rank 9th in the world in container volume. They sustain a critical economic ecosystem that facilitates 1 out of every 9 jobs in Southern California and supports nearly 3 million jobs nationally. In 2023, these ports processed an annual combined value of ±$492 billion. By 2035, capacity is projected to double at these ports.

EXCEPTIONAL HOUSING AND AMENITY BASE | Surrounding executive enclaves (Sunset Beach, Naples, Belmont Shore, Newport Beach) and workforce housing offers a diversity of amenities. Nearby Westminster and Bella Terra Malls highlight an abundance of surrounding retail offerings that also include renowned 2nd Street, Seal Beach Marina, Huntington Beach’s Pacific City and Rodeo 39 Public Market.

MULTI-MODAL TRANSPORTATION ACCESS | The surrounding multi-modal transit hub offers ease of commute for the region’s workforce, as well as proximity to executive housing. Located near the SR-22/I-405 interchanges, the asset has superb access to SR-57, SR-55, I-710, and I-605, as well as Long Beach and John Wayne Airports. Such access to critical infrastructure is as important as ever for business success and employee retention.