2171 – 2183 LAGUNA CANYON ROAD
located on Laguna Canyon Road. Laguna Canyon Road is the main entrance into Laguna Beach and sees upwards of 36,000 vehicles per day. The 12,720 square foot industrial complex was 76% occupied at acquisition. The inline rents at Laguna Canyon Industrial Park averaged $1.85 per square foot per month gross, whereas, market rents were $2.25 per square foot per month net at acquisition. DIG is currently in the process of implementing a light value-add program including upgrading the exterior of the building, fixing deferred maintenance, upgrading the HVAC, electrical, gas and hot water systems. DIG also offered tenant improvement allowances with new leasing to drive rental rates and improve the quality of the tenancy. The purchase included 8.88 acres of excess land too.