FULLERTON BREA BUSINESS PARK
PROJECT SUMMARY
DATE ACQUIRED
Dec. 2018
LOCATION
Fullerton, CA
SIZE
110,900 SF
TENANTS
33
YEAR BUILT
1985
MARKET
REGION
Home to over 3,190,400 residents, Orange County finds itself in a unique position as the third most populous county in the state of California. Accounting for over a third of the state’s overall Gross Domestic Product in 2018, Orange County is part of a California economy that has recently surpassed the United Kingdom to become the world’s fifth largest economy. Bolstered by a workforce where 38% of the population has a bachelor’s degree or higher, Orange County has seen year-over-year 4.35% growth in wages.
Orange County remains one of the most land constrained Southern California markets with ease of access to a larger population. With supply constraints in the market, industrial product in Orange County has continued to be converted into higher density uses. As e-commerce continues to grow, tenants looking for industrial space along strategic transportation corridors are faced with one of the tightest markets and rental rates continue along an unprecedented growth trajectory.
LOCAL AREA
With a median home price of $500,000, the City of Fullerton offers Orange County residents a cheaper option than neighboring cities to the west. Its location alongside the I-5 and I-57 transportation corridors provide excellent access to the beaches in Newport, Huntington, and Laguna Beach. Proximity to these corridors allows for a 15-minute commute along the I-55 to executive housing and a 25-minute commute along the I-57 to workforce housing in Corona/Riverside. Fullerton is home to one of the State’s largest universities, Cal State Fullerton, with 40,235 students. Known originally as an agriculture town, Fullerton has grown to a population of 139,491 with a median household income of $67,110 (10%) higher than California’s median household income.