Colliers International Completes $4 Million Sale of a 16,469-Square-Feet Office Building in Claremont, Calif.
Claremont, CA – May 31, 2011 – (RealEstateRama) — Colliers International, the second largest global real estate services organization, recently sold a 16,496-square-feet office space located at 358-398 W Foothill Blvd, Claremont, Calif. The transaction is valued at $4 million.
“I successfully helped buyer exchanged his apartment in Arcadia with less management intensive product, with great location in Claremont,” said Han Chen, a senior associate based in Colliers International’s Downtown Los Angeles office, who represented the buyer. “Through this reposition strategy, I helped my client increased his cash flow position significantly (he more than doubled his cash flow from his downleg property). It is a win-win situation for both buyer and seller.”
The seller, Community Commerce Bank, was represented by Cheryl Pestor at NAI Capital. The property was built in 1958 and remodeled twice in 2003 and in 2006.
About Colliers International
Colliers International is a global leader in real estate services with more than 15,000 professionals operating out of 480 offices in 61 countries. As a subsidiary of FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U), Colliers offers the stability of a strong financial partner and significant local ownership providing clients with accountability and enterprising real estate solutions. Colliers provides a full range of services to real estate users, owners and investors worldwide including: global corporate solutions; sales and lease brokerage; property and asset management; project management; hotel investment sales and consulting; property valuation and appraisal services; mortgage banking and insightful research. The Lipsey Company and National Real Estate Investor magazine ranked Colliers International as the world’s number two commercial real estate brand.
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.
Contact:
Angela Hwang, Regional Marketing Coordinator
Greater Los Angeles, Colliers International
Tel: 213 532 3258
angela.hwang (at) colliers (dot) com
www.colliers.com
