Colliers International Completes Four Sales Totaling Over $19.6 Million in Industrial Properties
TORRANCE, CA – January 10, 2013 – (RealEstateRama) — Colliers International, the third largest global real estate services organization, announced today that in the month of December, the team of Chris Sheehan, senior vice president, Adam Deierling, vice president, and Nick Vranka, associate, have negotiated the sale of 4 industrial properties totaling over $19.6 million throughout the Mid-Counties region of Los Angeles. The transactions represent a multitude of industrial needs and demands that Chris, Adam and Nick handle, including a unique property which was not on the market for sale and a property that received an offer before it was put on the market.
The recent transactions completed by Colliers International include:
9400 Norwalk Blvd., Santa Fe Springs, CA – Sheehan, Deierling, and Vranka of Colliers International represented the seller in the sale of 9400 Norwalk Blvd. This 62,302 SF industrial building with 12,000 SF of two story corporate image offices with prominent street frontage and a large fenced yard, was purchased by Superior Holdings LLC. for $6.1 million and will be used for their printing company, Superior Press. Jonti Bacharach, Wayne Lamb and Jeff Cecil of Cresa Partners represented Superior Holdings.
1110 W. Taft Ave., Orange, CA – The team along with Steve Schloemer of Colliers International’s Irvine office represented the seller in the sale of 1110 W. Taft Ave. for $6.05 million. The property, which was originally on the market for lease was approached by DMG Corporation, a custom HVAC equipment manufacturer, who offered to purchase the building for their corporate headquarters. DMG Corporation is consolidating its multiple offices and will expand its current operation within this building. 1110 W. Taft Ave. is a 66,821 SF industrial building with a large yard, heavy power, high image two story offices and abundant parking. Allen Buchanan and Steve Shatafian from Lee and Associates represented the buyer.
12282 Knott St., Garden Grove, CA – The team represented the buyer, Elite Screens, in the sale of a 56,000 SF industrial building for $5.1 million. Elite Screens had been in the market to purchase an industrial property and expand their distribution center for almost 2 years when they were approached by Sheehan, Deierling and Vranka. With the help of the team’s intimate market knowledge, they were able to show the buyer the ideal property before it was put on the market.
15040 Desman Rd., La Mirada, CA – The team, along with Bill Renwick of Colliers International’s Industry Office represented the seller, Desman Properties, in the sale of 15040 Desman Road for $2.3 million. The buyer, L.A. Supply Company, was also represented by Colliers International by Brad Christian in the Irvine office. L.A. Supply Company, a textile distributor out of Santa Fe Springs, CA, will utilize the 16,649 SF building as a distribution facility for their expanding company. The property has a fenced yard, dock high loading and was completely refurbished at the time of the sale.
“We believe there will be more companies looking to acquire real estate in 2013 as a result of the improvement of the regional and national economy in conjunction with record low interest rates and strong SBA financing” said Chris Sheehan. “Right now we are seeing an upward trend in corporate expansion and distribution, leading to lower inventory and increasing prices while properties continue to trade within the recovering market.”
For a photo of 9400 Norwalk Blvd., click here.
For a photo of 1110 W. Taft Ave., click here.
For a photo of 12282 Knott St., click here.
For a photo of 15040 Desman Rd., click here.
For questions, please contact Chris Sheehan (310-381-2431).
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), the firm 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.
More at www.colliers.com and www.twitter.com/colliersgla.
