Fullerton, CA – June 1, 2012 – (RealEstateRama) — Colliers International, the third largest global real estate services organization, has completed a five-year, 62,396 square foot industrial/office lease with Progressive Marketing Products/Premier, a global leader in flat panel mounts, carts, stands and mounting accessories for the audio visual industry. The two-story, class A facility is located at 1321 State College Blvd. in Fullerton, Calif.
Ian Britton and Clyde Stauff of Colliers International represented the tenant. Britton along with John Long of Colliers International represented the landlord, DSA State College Business Park, LLC. Progressive Marketing Products and its 50-plus employees will be relocating from its Anaheim headquarters to the new space in July. The property will be used as the company’s corporate headquarters as well as for manufacturing and distribution purposes.
The property was previously occupied by its original tenant (since 2001), Southern California Edison who relocated to Pomona at the end of 2011.
“High image and functional properties such as this are in very high demand because they are able to accommodate the diverse needs of businesses who are seeking an efficient, well-located facility to meet their office, manufacturing and distribution needs,” said Britton, senior vice president with Colliers International. “They are also in short supply in the North Orange County submarket, which led all Orange County industrial submarkets in the first quarter of 2012 with over 980,000 square feet of new lease transactions. This boost in tenant activity and demand has caused lease rates to increase and has even fueled speculative development for larger, class A buildings on select, infill parcels in Anaheim and Brea.”
Built in 2001, the free-standing building includes 17,000 square feet of upgraded office space on the second floor, ample parking, a full-service lunchroom, and dock-high and ground level loading doors. The property offers convenient access to the 91, 57 5 and 22 freeways.
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.