Newmark Capital Markets has completed the sale of 1730 South Anaheim Way, a newly developed 143,930-square-foot industrial building in Anaheim, CA. The asset is triple-net leased in its entirety to Rosendin Electric, Inc., a San Jose-headquartered electrical contractor founded in 1919 with 17 offices and more than 4,600 employees.
Newmark Capital Markets Co-Head of U.S. Capital Markets Kevin Shannon, Executive Managing Directors Bret Hardy, Jeff Read and Scott Read, and Managing Directors Scott Schumacher and Greg Osborne represented the seller and developer, a joint venture of Batcheller Equities and Panattoni Development. The buyer, American Realty Advisors, was self-represented.
With construction completed first quarter of 2018, the property is situated on 6.92 acres of land at 1730 S. Anaheim Way along the 5 freeway. It features extensive glass lines, 40,170 square feet of office space including 15,288 square feet of mezzanine space, 32’ clear heights, a large concrete yard and loading area, rooftop solar system and skylights.
“The industrial market throughout Southern California continues to be extremely tight. Newly-constructed assets like this are very rare,” Hardy said. “1730 South Anaheim Way represented an opportunity to acquire a brand new building in a high barrier to entry market, and a prime freeway-close infill location. It also has a long-term lease to a very strong corporate credit, who has invested more than $4 million in upgrades and enhancements to the property.
He added, “Core acquisition opportunities such like this asset garner an incredible amount of interest and offers.”
The property is situated within the path of growth, and is near the Anaheim Platinum Triangle and provides access to multiple freeways via the adjacent I-5 freeway.
About Newmark Capital Markets
Newmark Capital Markets, operated by Newmark Group, Inc., is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, our 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
We provide access to a wide range of services, including asset sales, sale leasebacks, mortgage and entity-level financing, equity raising, underwriting and due diligence. The transactions we broker involve vacant land, new real estate developments and existing buildings. We specialize in arranging financing for most types of value-added commercial real estate, including land, condominium conversions, subdivisions, office, retail, industrial, multifamily, student housing, hotels, data center, healthcare, self-storage and special use. For further information, visit www.ngkf.com/capitalmarkets.
Newmark Group, Inc., which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), 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 “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 “BGCA”.
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s and BGC’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.