Published on Wednesday, May 6, 2026
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The 1,100-square-foot to 3,320-square-foot size range for condos is rare for developers to build.
Guthrie Development Company has snagged a two-building, 62,395-square-foot industrial property in Anaheim, California, a move that will result in the conversion of the asset into 40 for-sale industrial condos.
The units will range from 1,100 square feet to 3,320 square feet. Finished condominium units are scheduled for delivery by the beginning of the fourth quarter of 2026.
Importantly, well-located and functional properties in Orange County like this one continue to see strong demand from owner-users, Zach Niles, JLL's senior managing director, told GlobeSt.
"Within this size segment (1,000 square feet to 3,000 square feet), the ability for a business to own its unit is rare because developers simply never built them," Niles said.
Guthrie Development recognized this condo conversion trend in the early 2000s and pioneered the concept in SoCal by subdividing existing multi-tenant industrial and office projects like this and selling the individual units to businesses.
These units qualify for 10%-down SBA financing, making these purchases very accessible and attractive to businesses, according to Niles.
"Furthermore, by buying their unit, they gain control of their occupancy rather than leasing and also build equity in an appreciating real estate asset. It's a no-brainer for them," he said.
Niles, Steve Wagner, and Brendan Brady represented the seller Orangethorpe Industrial and the buyer.
This property on 4.1 acres at 2350 East Orangethorpe Avenue went for $18.7 million. It has been renamed Anaheim Gateway Commercentre.
Guthrie Development Company has been retained to market the units for sale to commercial and industrial business owners across a broad range of uses.
Located at the intersection of the 91 and 57 freeways, the project offers immediate freeway access and high-visibility exposure to 38,000 cars per day.
Guthrie Development Company's rebranding effort entails significant aesthetic and functional upgrades, including the option for buyers to customize a unit to suit their specific needs. They may also purchase a fully renovated unit designed for ideal flexibility.