JLL Facilitates $18.7 Million Industrial Condo Sale in Anaheim

In the ever-evolving landscape of commercial real estate, JLL has once again demonstrated its expertise by successfully completing the sale of a two-building industrial property in Anaheim, California. The property spans 62,395 square feet, nestled on 4.1 acres at 2350 East Orangethorpe Avenue, was sold to Guthrie Development Company for a notable $18.7 million, or approximately $300 per square foot. This transaction not only signifies a successful deal but also highlights the growing demand for industrial properties in California’s dynamic market.

Transforming Space for Modern Business Needs

Upon acquiring the property, Guthrie Development Company announced plans for a comprehensive rebranding, dubbing it the Anaheim Gateway Commercentre. The company intends to convert the two buildings into 40 distinct industrial condominiums, which will range from 1,100 to 3,320 square feet. These finished units are expected to hit the market in the fourth quarter of 2026, aligning with the increasing trend towards owning business premises. As businesses continue to grow, having the option to purchase rather than lease workspace is becoming increasingly attractive.

JLL’s Instrumental Role in the Transaction

JLL acted as a strategic partner in this transaction, representing both the seller, Orangethorpe Industrial, LLC, and the buyer, Guthrie Development Company. Industry experts Zach Niles, Steve Wagner, and Brendan Brady were pivotal in navigating this sale, showcasing JLL’s capacity to deliver comprehensive services in a competitive market. They have also been tasked with marketing the newly converted units to a diverse array of commercial and industrial business owners, creating a tailored experience for prospective buyers.

A Commitment to Ownership and Customization

Guthrie’s CEO, Rob Guthrie, emphasized the company’s philosophy of providing "Homes for Business." He articulated their mission to support businesses in owning their space, addressing a critical need in the market. The rebranding initiative will not only focus on aesthetic improvements but also allow buyers to customize their units according to specific operational needs. This flexibility will appeal to various industries looking for ideal workspace configurations that enhance functionality and productivity.

Prime Location for Business Growth

Located at the intersection of the 91 and 57 freeways, Anaheim Gateway Commercentre boasts significant visibility and accessibility, with a traffic exposure of 38,000 vehicles daily. This prime location is set to attract a variety of owner-users who require functional spaces between 1,000 and 4,000 square feet—an increasingly rare offering in the bustling Orange County market. Zach Niles from JLL noted that properties of this size and location are highly sought after, reinforcing the anticipated success of this project.

About Guthrie Development Company and JLL

Guthrie Development Company, based in Orange County, stands out as a premier commercial real estate firm with a focus on the development and management of industrial properties. Notably, it holds the title of the largest developer of industrial condominium conversions in Southern California. JLL, a global leader in commercial real estate services, prides itself on its substantial experience, operating in over 80 countries with more than 113,000 employees. Their involvement in this transaction exemplifies their commitment to shaping the future of real estate and delivering tailored solutions for businesses.

In summary, the sale of the Anaheim industrial property represents a significant milestone for both JLL and Guthrie Development Company, underscoring the evolving landscape of commercial real estate in California. With strong demand for ownership opportunities and tailored business spaces, the Anaheim Gateway Commercentre is poised to meet this demand and contribute positively to the region’s economic growth.