$65M trade ranks as biggest industrial deal in Orange County for 2023

UPDATED, Aug. 14, 1:05 PM: A Dallas-based real estate investor has gained entree to Orange County in a big way.

Dalfen Industrial acquired two adjoining industrial buildings on nine acres of land for a combined $65 million. In news first reported by the Orange County Business Journal, the trade was the largest industrial sale in Orange County for 2023, and the fifth-priciest sale in Orange County since 2021.

The seller was JPMorgan Chase & Co. CBRE Group Inc. held the listings for the building, together nicknamed The Mart, located at 1340 S. State College Blvd. and 2000 – 2050 E. Winston Rd.

Located in Anaheim’s Tile Mile district, an enclave known for warehouses and shops dealing in tiles and stones, the two buildings comprise 182,000 square feet in a deal that pencils out to $356 per square feet. The buildings are 100 percent leased, according to CBRE’s marketing materials. The larger building, which runs 102,800-square-feet, features tenants such as Esmer Tile, American Tile & Marble Design and Westminster Teak. The smaller building, which runs 80,000 -square-feet, has two tenants– a company named Jon Don and Lunada Bay Corp. Both properties were built in 1997.

Dalfen entered the California market in 2021 and has acquired 12 industrial properties in cities such as San Diego and Moreno Valley, said John Endres, Dalfen’s market lead for Orange County. Rich Weiss, head of Dalfen’s West Region noted that Southern California is “a key strategic focus” for the company. Dalfen’s portfolio includes more than 50 million square feet in more than 20 states.

– Andrew Asch

Update: An earlier version of this article included a quote that referenced another deal. The article has been updated with a more relevant quote.