La Palma Ave
Anaheim, California
Cogent Industrial Partners recently concluded a complete retrofit/rebuild of a 40,000 SF manufacturing building within one of the most desirable industrial markets of Southern California. After 40 years of continuous occupancy, the property was in extremely poor condition.
The scope included; environmental remediation, seismic upgrades. All new offices, windows, doors, sprinklers, asphalt, and landscaping. Property is about to be leased to a credit tenant on a long term basis.
History
Built in 1968 the Anaheim, CA the property required a complete overhaul and significant environmental remediation. Project assignment commenced in 2019 and is anticipated to be complete by late 2021. The $3 MM in capital costs will easily be offset by a 30% increase in market rental value. Property values increased from $8 MM to $12 MM.
Rates
LOCATION: Anaheim, CA
VALUE: $ 4,000,000
SIZE: 40,000
START: 2019
COMPLETION: 2021
ADVISORY/ BROKERAGE: Voit