MIG Real Estate LLC recently acquired Mission Viejo Business Center in Mission Viejo, California, a 100,295-square-foot, six-building industrial site, from a global investment advisor for $30.3 million. Jeff Chiate, Bryce Aberg, Jeffrey Cole, Rick Ellison, Mike Adey, and Zach Harman of Cushman & Wakefield’s National Industrial Advisory Group in Southern California represented the seller,
“This acquisition continues the firm’s strategic investment plan for small bay industrial assets in a high barrier of entry and low vacancy submarkets in sought-after irreplaceable locations with limited supply growth,” said Kevin Stiles, director of commercial investments for MIG Real Estate. “MIG Real Estate will continue to operate this property under its present use and will pursue opportunities for similar investments in Southern California as part of our ongoing investment strategy targeting Western and Southeastern U.S. and Sun Belt states.”
Built in 1975, Mission Viejo Business Center at 23811-23981Via Fabricante in Mission Viejo is centrally located near Interstates 5 and 405 and John Wayne Airport. The property is 99% leased to 43 tenants.