CORFAC News

Contact:
Jenn Quader/ Judith Brower
Brower, Miller & Cole
(949) 955-7940
JQuader@browermillercole.com


Orange County, CA (August 23, 2012) – Mike Vernick and Mike Hefner of Voit Real Estate Services/CORFAC International’s Anaheim office have completed two industrial transactions encompassing  87,788 square feet in North Orange County.

“Industrial sales activity continues robustly in North Orange County as demand for industrial product remains strong,” said Mike Vernick, a Vice President in Voit’s Anaheim office. “We are seeing an increasing number of companies implementing expansion plans as they garner market share from struggling competitors or vertically integrate supply chains.  As the supply of mid and larger-sized properties continues to decline we expect the already improving industrial property values to continue appreciating throughout Orange County.”

Transaction #1
Voit’s Anaheim team completed the $5.9 million acquisition of a 77,788 square-foot industrial property in Placentia, Calif.  Mike Vernick and Mike Hefner of Voit represented the buyer, Classic Performance Products, a producer of high performance aftermarket suspension and braking chassis parts for classic automobiles.  The company plans to use the property for its manufacturing, sales, and R&D operations.

“Our client had very specific operational needs that are not easily met by the current market’s inventory,” said Vernick. “Our team was able to identify an ideal property that could accommodate our client’s expanding showroom and manufacturing needs all within a tight geographic radius.

The property is located at 378 E. Orangethorpe Avenue in Placentia, Calif.

Transaction #2
Mike Vernick and Mike Hefner of Voit’s Anaheim office also directed the $1.1 million sale of a 10,000 square-foot property located at 1721 N. Lime Street in Orange, Calif., on behalf of the seller, The Berg Family Trust.

“We leveraged the high demand amongst buyers and the lack of functional properties for sale in the Orange County market, and we were successful in generating a number of competitive offers on this property,” explained Vernick.  “As a result, the property went into escrow within one week of being exposed to the market.”

About Voit Real Estate Services/CORFAC International
Voit Real Estate Services is now a 10 office commercial real estate firm that, through its brokerage and asset services professionals working together, provides strategic property solutions tailored to clients' needs.  Combining 40 years of expertise in brokerage, investment advisory, financial analysis, market research, asset management, tenant advisory and property management services, Voit provides clients with forward looking strategies that create value for their assets and portfolios.

Voit is a privately held, debt-free firm that has successfully navigated numerous market cycles since 1971 and currently employs more than 250 people. Voit has owned, developed and managed over 50 million square feet of commercial real estate, participated in $1.4 billion of construction projects and completed over $36 billion in brokerage transaction volume.  Further information is available at www.voitco.com.

About CORFAC International
CORFAC International (Corporate Facility Advisors) is distinguished by the way it manages multi-market commercial real estate assignments on behalf of corporate entities and privately owned companies. Founded in 1989, U.S.-based CORFAC is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail real estate leasing and investment sales, multifamily property acquisitions and dispositions, property management and corporate services in North America, with coverage in South America provided by Panama-based Latin American Corporate Property Services. A Principal Member of FIABCI – the International Real Estate Federation with global affiliates in Europe and Asia, CORFAC International offers commercial real estate services with market reach in 65 countries worldwide. In recent years, CORFAC firms have averaged 10,000 completed transactions annually encompassing nearly 100 million square feet and valued at more than $6 billion. For more information on CORFAC, contact 703.532.6160 or visit www.corfac.com.