Colliers International Completes $2.326 Million Sale of a Retail Property in Tarzana, Calif.
Tarzana, CA – June 1, 2012 – (RealEstateRama) — Colliers International, the third largest global real estate services organization, has completed the $2,326,000 sale of an approximately 12,044 square foot vacant retail property located at 18553-18563 Ventura Blvd. in Tarzana. This prime Ventura Blvd storefront property is located in the heart of Tarzana’s business and entertainment district with significant frontage and excellent visibility near one of the busiest intersections in the San Fernando Valley on Ventura Blvd and Reseda.
Jeff Gould, Senior Associate, and Jeff Albee, Senior Vice President, of Colliers International represented the seller. Gould and Albee also represented the buyer, who will use the property for their dermatology and skin care practice.
The Colliers team worked hand in hand with the owner to execute a disposition and marketing strategy that targeted owner/user buyers in order to maximize the value of this well-located asset. Additionally, due to the proximity of the Tarzana Hospital, the Colliers team specifically targeted medical and office owner/user tenants in the surrounding area.
“This was a complex transaction that required all parties working together as a team to accomplish the sale,” said Albee. “In the end, our top tier marketing campaign not only maximized the value of the asset but also generated multiple competitive offers that maximized value. Ultimately, we identified an owner/user who purchased the property using SBA Financing and whose plans are to rehab the asset for their medical practice.”
Built in 1947, the property sits on approximately 0.39 acres of land and is located within a quarter of a mile from the new 250,000 square foot Village Walk retail complex in which includes Whole Foods and other high end boutique retailers. Additionally, it is within close proximity to many other major retail amenities in the area, the 101 Freeway, and the Tarzana Hospital.
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.
