(Tustin, Calif.) June 17, 2019 – San Diego-based commercial real estate investment firm SENTRE announces the $11.4 million sale of a primely located 56,190 square-foot industrial site at 15201 Woodlawn Avenue, Tustin, Calif. within Orange County’s John Wayne airport area, noted for historically high demand and steady growth.
This highly functional industrial location is a single-tenant facility and currently home to Precision Services Group, a full-service marketing, production and distribution company servicing clients such as Sotheby’s, Quiksilver, Hillstone Restaurant Group, Yamaha, Epicor, Coldwell Banker, Marriott and several more notable names. Previously, the property served as a regional distribution location for popular tea and juice brand, Snapple.
Ownership originally acquired the property as a land parcel; the on-site facility was subsequently built as a beverage distribution facility in 1985. This location, directly adjacent to the Tustin Legacy Redevelopment, has served to significantly enhance business within the immediate trade area.
Scott A. Read of Newmark Knight Frank represented the seller. The buyer was Alere Property Group LLC, headquartered in Newport Beach, Calif. SENTRE is headquartered in Downtown San Diego.
This sale adds to San Diego-based SENTRE’s increased activity in Orange County, having this year completed redevelopment of the significant 900,000 square-foot Lakeshore campus. This iconic mixed use campus, houses a trio of Class “A” office towers coupled with 25,000 square feet of food and beverage oriented retail, an activated outdoor space calledThe Park at Lakeshore and one of the largest fitness clubs in North America, among several more features and amenities.
