Torrance, CA – July 14, 2011 – (RealEstateRama) — Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed a $2 million transaction for a pair of contiguous industrial R&D units totaling 18,174 square feet at 1041 S. Placentia Avenue in Fullerton, Calif.
Scott Seal of Lee & Associates’ Orange office represented the seller, Mahmood Rezai of Infosend, Inc., while Hayden Socci of Voit represented buyer James Thornbrugh.
According to Seal, because R&D facilities attract a specific type of user, the properties generally require a longer time on the market. “We’ve seen a steady flow of buyers in the market though the sale comp pricing has remained relatively flat,” Seal said. “The supply of industrial properties remains very stable and is continuing to show signs of improvement.”
Both buyer and seller are in a growth pattern. Rezai, in particular, has completed a major renovation at his new headquarters and recently consolidated and moved in.
Lee Orange currently has the third 10,000-square-foot R&D unit for sale in Fullerton.
Celebrating more than 32 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 43 locations across the nation including Arizona, California, Georgia, Idaho, Indiana, Illinois, Kansas, Michigan, Missouri, Nevada, New Jersey, Texas and Wisconsin. With a roster of nearly 700 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.