COMMERCIAL REAL ESTATE : Cattlemen’s Group Purchases Complex as an Investment
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Cattle ranchers are still investing in Orange County, but their home on the range is more likely to have mirrored glass and stucco.
Central California Livestock Inc., an investment group in the San Gabriel Valley, bought a 153,000-square-foot retail, office and industrial complex at 1801 E. Dyer Road in Santa Ana. The group paid $5.8 million for the site.
“It’s just an investment property for them,” said broker Robert Socci of Scher-Voit Commercial Brokerage Co. in Anaheim. “They got a good buy, and they are just trying to use it for investment purposes.”
The price of the complex is a bargain compared to 10 years ago, when a financial group bought it for $9.8 million, Socci said. American National Properties in Anaheim was its most recent owner.
The complex now has 22 tenants and is about 85% leased. Socci and broker John Griffin represented American National Properties. Matt Pipkin in CB Commercial’s City of Industry office represented the buyers.
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