Colliers International Completes $1,722,000 Sale of Industrial Building in Santa Fe Springs, California
Santa Fe Springs, CA – April 26, 2012 – (RealEstateRama) — Alex Blecksmith, Chris Sheehan and Adam Deierling of Colliers International have completed the $1,722,000 sale of a 16,400 square foot industrial warehouse distribution facility on behalf of the seller, a private owner from Placentia, Calif. The property is located at 13117 Molette Street in Santa Fe Springs, Calif.
The buyer was Torrance, Calif.-based Otafuku Foods, Inc. and was represented by Luke McDaniel and Cameron Driscoll of VOIT Commercial Real Estate Services. Otafuku Foods specializes in the marketing, development, and sales of Otafuku sauces, vinegars and specialty components to food service, consumers and industrial business.
“Per our advisement to the seller, we were able to complete a significant portion of the due diligence process prior to putting the property on the market,” said Alex Blecksmith, associate with Colliers International. “This strategy enabled us to significantly reduce the marketing cycle and choose a buyer quickly.”
The property is located in the mid-counties submarket which has a base of approximately 103 million square feet of industrial product with a current vacancy level at a low 3.9 percent. The location of the property at the geographic center of both Los Angeles and Orange Counties, generated significant interest from buyers in adjacent submarkets that were looking for a large, functional fenced-yard.
Built in 1976, the freestanding facility features a large, fully secured yard, 16-foot ceiling clearance, two 12’x12’ ground level doors and a 2,000 square foot bonus canopy. It offers easy access to the 5 and 605 freeways.
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 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 Collier s 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.
