Harbor Associates-Led Venture Buys SoCal Industrial Park for $81M
The sale reflects the continued strength of the region’s small-bay industrial market
By Greg Cornfield May 19, 2026 3:25 pm
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A small-bay industrial campus in Southern California has traded hands for about $289 a square foot as smaller warehouse properties outperform larger assets in the top logistics and manufacturing market in the U.S.
Harbor Associates, in a joint venture with investment management firm Farallon Capital Management, paid $81 million for the 280,000-square-foot Yorba Linda Commerce Center in Orange County in an off-market deal. The asset at 3910 Prospect Avenue was 98 percent leased when the deal closed.
Vancouver-based QuadReal Property Group provided a $56.3 million acquisition loan for the 16.5-acre property. The development was built in 1987 with 10 single- and multi-tenant buildings housing 83 units ranging in size from 1,200 to 24,00 square feet. Each unit offers office space and clear height docks up to 22 feet.
CBRE’s Shaun Moothart, Bob Ybarra and Andrew Post represented Harbor Associates in securing the financing, while QuadReal’s Brandon Bachner handled the investment firm in-house. Gary Martinez of Ashwill Associates represented the seller — a private family that owned the property for more than 30 years.
The vacancy rate for Orange County’s small-bay industrial real estate under 24,000 square feet is approximately 2 percent, and the rate for spaces under 10,000 square feet is near 1 percent, according to CBRE. Orange County’s larger industrial market vacancy is at 5.7 percent.
“Small-bay industrial in Orange County is incredibly tight, and is arguably the healthiest shallow-bay market in the entire country,” Rich McEvoy, principal at Harbor Associates, said in a statement. “Yorba Linda Commerce Center … maintained occupancy above 98 percent for the past decade.”
Value-add firm Harbor Associates — in a joint venture with the Bascom Group — focuses on acquiring and repositioning under-performing assets throughout Southern California, and has been involved in the renovation, repositioning and development of 40 commercial projects totaling over 6 million square feet valued at more than $1.5 billion.
Meanwhile, Farallon manages approximately $39 billion in capital and commitments for institutions, including college endowments, charitable foundations, pension plans and sovereign wealth funds, as well as high-net-worth individuals and family offices.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
