751-755 E Lambert Rd
La Habra, CA 90631
Industrial Property For Sale

RARE NORTH ORANGE COUNTY 3.8 AC LEASED INDUSTRIAL SITE – IDEAL FOR REDEVELOPMENT, OWNER/USER OR LAND BANK OPPORTUNITY * Site has 2 existing buildings totaling approximately 18,800 SF and leased to three tenants with leases expiring in the Fall of 2019. All three leases currently have rents that are 30% below market, providing an investor the opportunity to increase his return on cost to above 5% by raising rents to a market level. The site additionally provides a buyer the opportunity to partially or fully occupy the entire property within 12 months or add value through redevelopment. * Approximately 60% of the in-place income is derived from the credit tenant Core & Main who has occupied the site for 21 years. * The unique size and assemblage of the property is a clear market advantage, given the limited supply of industrial-zoned land in Orange County. EXCEPTIONALLY STRONG MARKET FUNDAMENTALS * Orange County is one of the most highly sought after industrial investment markets in the country, with an overall market vacancy of 1.5%. North Orange County, the county’s leading industrial submarket, is among the best-performing in all Southern California. Accounting for 44% of the county’s 256.3 MSF inventory, the submarket is characterized by an all-time low 0.6% vacancy in 2Q18. * On an even more micro scale, The City of La Habra consists of 60 industrial buildings, 0% of which is currently available for lease. CBRE’s Econometric Advisors forecasts a 22.4% growth in industrial rental rates in Orange County over the next 5 years, providing significant upside potential. * Lack of available land sites in North Orange County prohibiting future new industrial development. * In North Orange County, land prices have increased from $33/psf in 2007 to $65/psf in 2018, a 97% increase.