Colliers International Completes Lease of a 76,090 Square-Foot Industrial Building in Simi Valley, Calif.
Simi Valley, CA – April 25, 2012 – (RealEstateRama) — Colliers International, the third largest global real estate services organization, has completed the lease of a 76,090-square-foot industrial property located at 2390 Ward Avenue, Unit B in Simi Valley. The transaction is valued at approximately $1.4 million.
John DeGrinis, senior executive vice president, Patrick DuRoss, associate vice president, and Jeff Abraham, senior associate all based in Colliers International’s Encino office represented the tenant, All American Containers. The landlord was represented by Scott Caswell of Delphi Business Properties.
“All American Containers was searching for a modern industrial facility to accommodate their current and anticipated growth,” DeGrinis explained. “Originally our search was for smaller buildings across the San Fernando Valley and Ventura County, but we thought the property on Ward might provide the right opportunity for our client.”
“All American is moving from approximately 29,000 square feet to 76,000 square feet,” DuRoss added. “Although All American Containers is rapidly growing, the economics of the deal were still a priority. We could see that the Ward property offered many of the facility attributes we were looking for, and we were able to structure a deal that made this an attractive short term and long term opportunity for our client.”
The building was constructed in 1989 and offers building features including 28-foot minimum clearance, 1600 amps of power, 7 dock high positions and high image office space. All American Containers is one of the largest suppliers of glass, plastic and metal containers, tubes and dispensers, and plastic and metal closures in the United States.
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), 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.
