Strategic Year-End Addition Strengthens DIG’s Orange County Industrial Portfolio
Laguna Beach, CA – December 31, 2025 – Dornin Investment Group (“DIG”) is pleased to announce the off-market acquisition of Grand Commerce Center, a six-building, multi-tenant light industrial complex located at 600–650 S. Grand Avenue in Santa Ana, California. The property was acquired for $29.9 million ($294 per square foot), reinforcing DIG’s presence in one of Southern California’s most supply-constrained and highly sought-after industrial submarkets.
Built in 1989, Grand Commerce Center spans 101,676 square feet across six single-story buildings situated on 6.67 acres. The park features 68 tenant suites averaging 1,495 square feet, with 91.4% occupancy at closing and in-place rents approximately 26% below market. The property offers major street frontage along Grand Avenue, immediate access to I-5, SR-55, and SR-22 freeways, and benefits from Santa Ana’s deep labor pool and central location within Orange County.
“This acquisition represents a rare opportunity to secure a well-located, infill industrial asset with significant upside,” said Chris Dornin, CEO of Dornin Investment Group. “Grand Commerce Center’s below-market rents and strong tenant demand position us to create meaningful value through strategic leasing and operational enhancements.”
DIG plans to execute a targeted capital improvement program to maintain asset integrity and enhance long-term performance. Planned improvements include pavement repairs, fire safety compliance, HVAC upgrades, and roofing enhancements, leveraging DIG’s proven track record of repositioning similar assets in the Santa Ana submarket.
Philip Smith, Director of Acquisitions at DIG, added:
“Grand Commerce Center aligns perfectly with our value-add strategy. With rents 26% below market and a highly fragmented tenant base, we see tremendous opportunity to drive NOI growth through lease-up, rent adjustments, and operational efficiencies.”
Joseph Czech, Senior Vice President at CBRE, commented:
“It was a privilege to represent Dornin in their acquisition of Grand Commerce Center. This transaction highlights Dornin’s strategic expansion within the Orange County market. The asset offers a perfect synergy of immediate stability and long-term value creation, serving as a testament to the enduring demand for functional, well-located industrial space in this region.”
The acquisition was financed through LoanCore, with debt placement arranged by CBRE Capital Markets, led by Mike Walker and Andy Gross, and equity provided by the principals of Dornin Investment Group. DIG plans to syndicate equity post-closing through an Investment Fund, seeking a programmatic joint venture partner and/or high-net-worth investors.
Mike Walker, Executive Vice President at CBRE Capital Markets, added:
“This financing was an excellent opportunity for our lender to expand their relationship with Dornin Investment Group and is a testament to the strength of Orange County’s industrial fundamentals and the property’s strong location in Santa Ana. With in-place rents below market, the asset presented a compelling opportunity for lenders seeking long-term value in a high-demand submarket.”
Legal counsel was provided by Allen Matkins, with title and escrow services facilitated by Chicago Title.
About Dornin Investment Group
Dornin Investment Group (“DIG”) is a fully integrated real estate investment firm with offices in Laguna Beach, CA, and Las Vegas, NV. DIG invests in commercial and residential real estate across the capital stack in partnership with institutional and private investors. The firm specializes in distressed, opportunistic, and value-add investments across all major property types, focusing on office, flex, industrial, multifamily, and hospitality properties, in addition to non- and sub-performing loans. Since 2010, DIG has completed more than $2.1 billion in investments across 88 transactions. For more information, visit http://www.dorningroup.com.