ANAHEIM, Calif. – April 5, 2017 – Dave Hunsaker and James Meyer of Lee & Associates Orange assisted CPI Ventures LLC in the expansion of their paving and asphalt operations via a 1031 Tax Deferred Exchange that involved two industrial properties valued at $5.65 million.
CPI Ventures, which conducts business as Champion Paving, sold a one-acre industrial yard located at 1426 S. Allec Street in Anaheim for $2.55 million and purchased a 14,500-square-foot industrial building with a 1.6-acre yard located at 1175 N. Van Horne Way in Anaheim for $3.1 million.
Capital Investment Group, LLC, represented by Luke Hudson of Lee & Associates Orange, purchased the Allec Street property, to be used as a second location for their towing business. Bayer/Erickson Partnership, represented by Wally Courtney of Paul Kott Realtors, sold the Van Horne property.
“This was a great opportunity for both CPI Ventures and Capital Investment Group to expand their operations in a market that has very little industrial yard space available,” per Hunsaker.
Hunsaker and Meyer are members of the North Orange County Industrial Group of Lee & Associates which provides a full-service approach tailored to each client’s needs, objectives and resources.
About Lee & Associates
Lee & Associates – Orange has a team of 50 agents and brokers that have provided expert commercial real estate services in and around Orange County, since 1983. Lee & Associates is the largest broker-owned firm in North America with locations throughout the U.S. and more than 800 brokers nationwide, providing a wide range of specialized commercial real estate services on a local, regional and national level. For the latest news from Lee & Associates Orange, visit Lee & Associates Orange or follow us on Facebook, LinkedIn, Google+ and Twitter.