JLL has announced that it has completed the sale of a fully entitled 12.14-acre industrial site located on East Vermont Avenue in Anaheim to Western Realco for $40.7 million. Western Realco will immediately begin demolition and construction to develop a new, 256,046-square-foot Class A industrial building. Construction is expected to be completed in late 2027.
JLL’s Zach Niles, Louis Tomaselli and Steve Wagner represented the seller, Rexford Industrial, and buyer Western Realco, in the transaction. JLL has also been retained to market the new development for lease or sale, which can accommodate a broad range of uses, including logistics, manufacturing, assembly, food processing and temperature-controlled storage, among others.
“We see an opportunity to deliver a new, Class A building to the market in a space where’s there’s currently very limited inventory and growing demand across multiple sectors”, said Jeremy Mape, principal at Western Realco. “The building’s location, size and versatility, paired with the city of Anaheim’s business-friendly environment and public power utility, is an opportunity we just couldn’t pass up.”
Western Realco’s new industrial building will feature 36-foot clear height, 39 dock-high doors, an ESFR sprinkler system, 4,000 amps of power and a fully enclosed truck court. Located in Anaheim’s stadium area, the building will offer immediate freeway access and ideal reach to SoCal’s 23+ million residents.
“The project’s delivery timing will prove to be ideal”, said Zach Niles, JLL senior managing director. “Real-time, we are seeing a significant increase in activity across several industries, particularly in aerospace, defense tech, advanced and specialized manufacturing, food and beverage, and players supporting the AI, energy and data center sectors.”
Western Realco is a Newport Beach-based real estate development and investment firm established in 1972. For over five decades, the company has specialized in the ground-up development, acquisition and management of institutional-quality industrial properties throughout California, Arizona and Nevada.
Information for this article was sourced from JLL.