News Summary
RAN Enterprises has purchased a 26,321-square-foot industrial building in Huntington Beach for $8.3 million, underscoring the demand for coastal industrial properties. Fully leased to Beach Wire & Cable, the facility highlights a tight market with a 2.3% industrial vacancy rate in the area. The deal reflects a broader trend in commercial real estate, where demand is high due to limited coastal inventory and expanding business needs.
Huntington Beach, California –
RAN Enterprises, a prominent HVAC contractor, has successfully acquired a 26,321-square-foot industrial building located at 15881 Chemical Lane in Huntington Beach for $8.3 million, translating to $315.34 per square foot. This transaction marks a significant investment in a real estate market characterized by a limited supply of coastal industrial properties.
The seller of the property has been identified as Barry S. Jaffe, while the identity of the buyer, although linked to RAN Enterprises, remains undisclosed. The industrial facility is currently fully leased to Beach Wire & Cable, a wholesaler specializing in communications products and equipment. The building’s rental status signals the sustained demand for industrial spaces in the region.
This property encompasses a total of 1.2 acres and features various amenities designed to cater to industrial operations. It includes 4,689 square feet of office space, a secured yard, and additional storage. The clear heights of the building range from 17 to 21 feet, with five grade-level doors and one dock position available, allowing for efficient truck access and logistics operations.
Currently, the industrial vacancy rate in Huntington Beach stands at a mere 2.3%, reflecting the tight market conditions and emphasizing the value of this recent acquisition. Sammy Cemo, First Vice President at CBRE, highlighted that opportunities for coastal industrial spaces in Orange County are becoming increasingly scarce. Analysts foresee continued high demand for such properties, especially due to their proximity to major ports and relatively low rental rates compared to market standards.
The transaction was facilitated by a skilled team from CBRE, which included Anthony DeLorenzo, Sammy Cemo, Bryan Johnson, Harry Su, Eric Cox, and Mike Longo. Their involvement underscores the complex dynamics of the real estate market and the importance of having experienced professionals when navigating property acquisitions.
This acquisition by RAN Enterprises reflects a broader trend within the commercial real estate sector, where the demand for industrial properties, particularly in coastal areas, has surged due to limited inventory. As businesses expand and adapt to changing market dynamics, the need for functional and strategically located industrial spaces continues to escalate.
Overall, the purchase of the Huntington Beach industrial building not only showcases RAN Enterprises’ commitment to investing in relevant assets but also highlights the growing interest in industrial real estate amidst shifting economic conditions. With the current market environment remaining tight, the significance of this deal is poised to resonate throughout the region’s commercial property landscape for the foreseeable future.
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Additional Resources
- Orange County Business Journal
- Wikipedia: Huntington Beach, California
- Connect CRE
- Google Search: Huntington Beach real estate
- Los Angeles Times
- Google Scholar: Huntington Beach real estate
- Fire Rescue 1
- Encyclopedia Britannica: Huntington Beach
- Orange County Register
- Google News: Huntington Beach real estate news
Author: STAFF HERE HUNTINGTON BEACH
The Huntington Beach Staff Writer represents the experienced team at HEREHuntingtonBeach.com, your go-to source for actionable local news and information in Huntington Beach, Orange County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Huntington Beach Surf City USA Marathon, the U.S. Open of Surfing, Fourth of July celebrations at the Huntington Beach Pier, and community festivals at Huntington Beach Central Park. Our coverage extends to key organizations like the Huntington Beach Chamber of Commerce and Visit Huntington Beach, plus leading businesses in retail, hospitality, and outdoor recreation that drive the local economy. As part of the broader HERE network, including HEREAnaheim.com, HERECostaMesa.com, HERESantaAna.com, and HERELosAngeles.com, we provide comprehensive, credible insights into Southern California's dynamic landscape.
