Brea, CA – September 30, 2011 – (RealEstateRama) — Colliers International, the second largest global real estate services organization, has completed the sale of a 45,560-square-feet industrial property located at 1425 Moonstone Street, Brea Calif. The transaction is valued at $4.055 million.
Ian Britton, Senior Vice President, and John Long, Associate, both based in Colliers’ Orange County office along with Tom Dorman of CBRE represented the Seller, PSIP CAM Brea LLC, an affiliate entity of Los Angeles-based Cohen Asset Management, Inc.. The Buyer,Harmony Properties, LLC, was represented by Luke Hudson of Lee & Associates in Orange.
“Attractive SBA financing, strong user demand and a lack of quality inventory available for sale has contributed to the overall success of the project,” said Britton. “Brea has the unique ability to draw industrial users from North Orange County, Mid Counties as well as the City of Industry.”
This sale marks the 3rd transaction completed this year within the newly branded “Brea Canyon Commerce Center”, a six (6) building project recently purchased by Cohen Asset Management’s affiliate. The properties range in size from 19,779 SF to 70,492 SF and were previously owned and occupied by Simpson Manufacturing. The ownership has reconditioned the buildings and recently adjusted the lot lines to create large fenced yard areas for industrial users. Other upgrades include new modern landscape, new exterior and interior paint, resurfaced parking areas, modern architectural treatments and new office fixtures. The buildings have appeal to a wide range of industrial users due to the attractive M2 zoning, heavy power, functional loading and business park setting.
About Colliers International
Colliers International is the third-largest commercial real estate services company in the world with 12,500 professionals operating out of more than 500 offices in 61 countries. A subsidiary of FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U), it focuses on accelerating success for its clients by seamlessly providing a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and research. Commercial Property Executive and Multi-Housing News magazines ranked Colliers International as the top U.S. real estate company and the latest annual survey by the Lipsey Company ranked Colliers International as the second most recognized commercial real estate brand in the world.
Since 1908, Colliers has stood at the forefront of the Los Angeles real estate industry. Today, Colliers operates seven offices throughout Greater Los Angeles, including Downtown Los Angeles, Orange County, Inland Empire, South Bay, San Fernando Valley, Santa Clarita and Commerce. Follow us at www.twitter.com/colliersgla.
Angela S. Hwang
Regional Marketing Coordinator | Greater Los Angeles
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angela.hwang (at) colliers (dot) com
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