Marty Indvik of Lee & Associates Central Coast office represented the seller, Chicago Bridge & Iron Company, who is consolidating to other California and Texas locations. The buyer, Corral De Piedra Land Company, a subsidiary of Waste Connections, plans to utilize the property for administrative purposes as well as the servicing and storage of their vehicles.
Situated on 12.5 acres of county land, the industrial property consists of 16,382 square feet of light manufacturing buildings and 5,000 square feet of administrative office set on a 3.5 acre parcel. The adjacent 9 acre parcel, previously used as excess storage and yard, received approval in April 2010 for an additional 30,679 square feet of industrial buildings.
“Both buyer and seller were very happy with the way the deal came together,” said Indvik. “CB & I was looking to sell in order to consolidate operations and the facility fulfilled a need that Waste Connections has had for over five years. As the buyer will attest, these types of properties are few and far between in our county.”
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