Colliers International Completes a 78,021-Square-Foot Industrial Sale for $4.2 Million in Chino, Calif.
Los Angeles, CA – October 14, 2011 – (RealEstateRama) — Colliers International, the second largest global real estate services organization, has completed the sale of a 78,021-square-foot industrial property located at 5740 Schaefer Ave. Chino, Calif. The transaction is valued at $4.2 million.
Richard Schwartz, Vice President, and Brad Yates, Vice President, both based in Colliers’ Inland Empire office represented the Seller, Shield Packaging. The Buyer, Yama Seiki, a manufacturer of milling machines, was represented by Eddie Lee of Ashwill Associates.
“Strong user demand and a lack of inventory available for sale contributed to the overall successful sale of the property, and it was sold the second time at a $300,000 price increase,” said Yates. “The Buyer paid all cash and we closed the deal in just 30-days.”
“Chino has the unique ability to draw industrial users from neighboring cities,” added Schwartz.
This is the second time Schwartz and Yates sold this property in 2011 alone. The building was built in the late 1970’s and has been used as a manufacturing facility since it was built. The new owner’s plans include a complete refurbishment of the property from the offices to the yard area, and it will be used as their U.S. headquarters.
About Colliers International
Colliers International is the second-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
Dir +1 213 532 3258 | Mob +1 310 867 4105
Main +1 213 627 1214 | Fax +1 213 327 3258
angela.hwang (at) colliers (dot) com
Colliers International
865 S Figueroa St., Suite 3500 | Los Angeles, CA 90017 | USA
www.colliers.com
