YORBA LINDA, CALIF. — A joint venture between Harbor Associates and Farallon Capital Management has purchased Yorba Linda Commerce Center, a small-bay industrial campus in Yorba Linda, in an off-market transaction valued at $81 million. The seller was a private family that had owned the property for more than 30 years.
Located at 3910 Prospect Ave., Yorba Linda Commerce Center features 280,000 square feet of industrial space spread across 10 single- and multi-tenant buildings featuring 83 units ranging in size from 1,200 square feet to 24,000 square feet. Each unit includes office space, clear heights up to 22 feet, ground-level doors, ample electrical capacity, LED lighting and updated HVAC systems. Built in 1987, the asset was 98 percent leased at closing.
Gary Martinez of Ashwill Associates represented the seller in the transaction. Shaun Moothart, Bob Ybarra and Andrew Post of CBRE represented Harbor in securing a $56 million fully funded loan that was provided by an affiliate of QuadReal Property Group with Brandon Bachner leading the financing on behalf of QuadReal.