According to the Orange County Business Journal, The Walt Disney Company has acquired a new piece of industrial property in Anaheim, California, after Disneyland was previously a tenant of the space.
Disney Purchases Warehouse, Disneyland Formerly a Tenant
Disney purchased the warehouse from the previous owners, JPMorgan Chase & Co., for $124 Million. In 2018, JPMorgan Chase & Co. bought the warehouse for an undisclosed amount.
The warehouse, located at 1501 and 1601 E. Cerritos Ave. in Anaheim, is 406,787 square feet.
Disney had been a tenant of the building but has now outright bought the entire space.
Over the past several years, Disneyland Resort has reportedly moved a lot of their backstage facilities away from the parks to allow for more room for expansion via DisneylandForward. It’s possible that this purchase could somehow be connected, or that simply they were tired of paying a lease when they could outright own the building and have more of a say in its use.
DisneylandForward was first announced in 2021, and is Disney’s initiative to expand the Disneyland Resort and proposes the addition of new lands, resort hotels, retail, dining, and entertainment on the eastern and western edges of the existing Disneyland Resort.
One such land that has been proposed is a new “Avatar” experience. Disney’s 2024 Annual Meeting of Shareholders revealed the first piece of concept art for the area.
The Orange County Business Journal advises they will report additional details about the warehouse transaction in their February 10 issue, so stay tuned for more updates.
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