Guthrie Development Co. has acquired a 13,260-square-foot multitenant industrial building in Fountain Valley, Calif., from a private seller. Acquired for $4.3 million, the property is located at 17330 Newhope Street.
“Our firm focuses on strong-performing asset classes such as industrial, which continues to surpass all other commercial real estate sectors,” said Rob Guthrie, president at Guthrie Development Co. “Demand for this product type has skyrocketed recently, especially in the Orange County market. In fact, this region saw its 11th-straight quarter of positive absorption in Q1 2022. Competition for industrial space in Orange County has never been higher, which is driving rental rates to new all-time highs. Through our extensive expertise in the Orange County market, we have observed increasing interest in this sector from both users and investors in the area.”
The property Guthrie Development has acquired consists of seven units ranging fr
