Cabot, Cabot & Forbes Realty Advisors of Boston bought a 378,000-square-foot warehouse in Santa Ana for $18 million. That is thought to be one of the highest prices paid for a warehouse in the county, said Grubb & Ellis Co., commercial brokers on the deal.
USCO Distribution Inc. now leases the building at 515 E. Dyer Road from the seller, Santa Ana Associates, Hartford, Conn.
When the five-year lease expires, Cabot plans to redevelop the building into offices. The land in the area is too expensive to justify using the building as a warehouse, said Byron Ward, the brokerage's senior marketing consultant.