Furon Pays Record Price for Garden Grove Building
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Furon Corp. has bought an industrial building in Garden Grove for $13.7 million, the largest amount ever paid for a manufacturing site in that city, a brokerage firm said Tuesday.
Furon, a Laguna Niguel maker of high-performance plastics, bought the 182,000-square-foot building on 13 acres from the bankruptcy estate of Techmedia Computer Group and its owner, Andrew Park.
With large parcels increasingly scarce and vacancy rates near record lows, manufacturers have been paying premium prices for Orange County facilities.
Indeed, multiple offers were made on the Garden Grove property, said Greg Ozimec, vice president of Voit Commercial Brokerage in Irvine. Voit represented the trustee in the Techmedia bankruptcy.
Furon, acquired last year by a unit of a French company, was represented by Roger Egge of CB Richard Ellis in Newport Beach.
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