Newmark Grubb Knight Frank (NGKF) has completed the $3.74 million sale of a vacant, 18,156-square-foot industrial building in Lake Forest, CA.
David L. Kluver, managing director with NGKF represented the seller, Amkly Enterprises LLC. The buyer was Camisasca Living Trust and plans to occupy the building for manufacturing and distribution of car accessories.
Located at 20341 Hermana Circle, the property features 18’ warehouse clearance, two ground-level truck doors, and a private yard area.
“The buyer owns a property across the street from this asset and is expanding its operations making this opportunity a good fit,” said Kluver. “Pricing is at historical highs for quality industrial properties in core South Orange County locations due to the lack of industrial product as this product type is being replaced by retail and residential properties.”
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.