The Orange County real estate market demonstrated continued activity in October with several significant transactions across the multi-family and industrial sectors. An apartment complex in Anaheim sold for $3.2 million, while another in Santa Ana fetched $3.3 million, signaling strong investor interest in residential properties. The industrial market also saw movement with key sales and leases in Westminster and Orange.
Key Takeaways
- A seven-unit Anaheim apartment complex sold for $3.2 million, or $457,142 per unit.
- A 12-unit Santa Ana apartment building was acquired for $3.3 million, priced at $275,000 per unit.
- An industrial building in Westminster changed hands for $2 million.
- Cambra Motor Sports relocated to a larger industrial space in Orange under a new five-year lease.
- Real estate executive Philip Voorhees is set to join Bison Partners in Irvine as a partner in 2026.
Multi-Family Properties Attract High-Value Sales
Investor demand for apartment buildings in Orange County remained robust, as evidenced by two major sales in late October. In Anaheim, a seven-unit complex located at 201 E. Wakefield Ave. was sold on October 27 for $3.2 million. The sale price breaks down to an average of $457,142 per unit, a notable figure for the area.
The property, built in 1964, is situated just 2.5 miles from Disneyland and near the 5 freeway, making its location a key asset. The two-story building spans 9,436 square feet and offers a diverse mix of apartment sizes, ranging from two to five bedrooms. According to the brokerage involved, Morgan Skenderian Investment Real Estate Group, monthly rents at the complex range from $2,545 to $3,995.
The Newport Beach-based firm represented the seller, DRI Wakefield LLC, in the transaction. The buyer was identified as TREK Investment LLC.
Santa Ana Sees Value-Add Opportunity
Earlier in the month, a 12-unit apartment building in Santa Ana was sold on October 3 for $3.3 million. This sale translated to a per-unit price of $275,000. The property, located at 609 North Baker St., consists entirely of two-bedroom, one-bathroom units within an 8,926-square-foot structure.
Marcus & Millichap, the brokerage that handled both sides of the deal, noted that the sellers had already performed significant interior and exterior renovations. Greg Bassirpou, a senior managing director of investments at the firm, commented on the sale.
“Apart from the excellent location directly adjacent to the Downtown Santa Ana and Civic Center area, the sellers were able to maximize value through interior and exterior renovations,” Bassirpou stated.
He added that the new buyer, who remains unidentified, plans further upgrades. The goal is to improve operations, increase cash flow, and fully stabilize the asset. The building's amenities include a gated entry, a large central courtyard, 12 enclosed garages, and on-site laundry facilities.
Industrial and Commercial Spaces in Demand
The commercial real estate sector also saw notable activity, highlighting the continued demand for industrial properties in central Orange County.
Westminster Industrial Building Sells for $2 Million
A multi-tenant industrial building in Westminster sold for $2 million in a deal that closed on October 17. The property, located at 15083-15091 Weststate St., is a 4,272-square-foot structure divided into three units. Lee & Associates in Orange represented both the buyer and the seller, neither of whom were identified publicly.
The sale underscores the strength of the local industrial market, where well-maintained, multi-tenant properties are attracting significant investor interest for their potential to provide stable, long-term returns.
Greg Diab, a principal at Lee & Associates, remarked on the transaction's significance. “This sale demonstrates the continued strength of the Orange County industrial and commercial real estate market,” he said. “High-quality, multi-tenant properties with strong fundamentals continue to attract buyers/investors seeking stable, long-term opportunities.”
Custom Auto Shop Relocates in Orange
In the city of Orange, Cambra Motor Sports, also known as Cambra Speed Shop, has moved to a new, larger location. The custom car and hot rod builder signed a five-year lease for an 11,190-square-foot industrial property at 675 N. Main St. The company was previously located on W. Angus Ave.
The new facility offers a mix of spaces, including 4,000 square feet of office area and a warehouse with 13-foot clearance. David Williams, a principal with Lee & Associates who negotiated the lease for both Cambra and the landlord, Western Enterprises LLC, highlighted the property's advantages.
“This facility provides Cambra Motor Sports with an ideal combination of office, production, and warehouse space in a central Orange County location,” Williams explained. Financial terms of the lease were not disclosed.
Industry Moves and Community Initiatives
Beyond property transactions, the Orange County real estate community saw a key executive move and a notable philanthropic effort launch in November.
Executive Transition at Bison Partners
Philip Voorhees, currently the vice chairman in CBRE’s Retail Capital Markets division, will be joining Bison Partners in Irvine as a partner. The move is scheduled for the beginning of 2026. At Bison, Voorhees will be responsible for overseeing acquisitions and capital markets.
Bison Partners, founded in 2022 by Brad Rable and Wil Smith, focuses on acquiring and repositioning retail shopping centers in California, Arizona, and Nevada. Voorhees's extensive experience is expected to significantly contribute to the firm's growth strategy.
Hanley Investment Group Kicks Off Movember Campaign
In Corona del Mar, Hanley Investment Group (HIG) has launched its 15th annual Movember fundraising campaign. The initiative raises funds and awareness for men’s cancer and healthcare. This year's theme, “Mo’ments in Time,” also celebrates the firm's 20th anniversary.
Since 2011, HIG has raised over $400,000 for the Movember cause. The campaign holds personal significance for the company's president, Ed Hanley.
“I carry this cause close to my heart in memory of my father, who passed away from prostate cancer in 2009,” Hanley shared. “His strength and story continue to inspire our mission to make a lasting impact.”
Participants, known as “Mo Bros,” begin November clean-shaven and grow moustaches throughout the month to spark conversations about men's health. The firm is using the campaign's anniversary to share stories and photos from past years, reflecting on its long-term commitment to the cause.
