Colliers International Completes Sale of Brea Imperial Center located in Brea, Calif.
Brea, CA – March 6, 2012 – (RealEstateRama) — Colliers International, the third largest global real estate services organization, has completed the sale of a 45,283 square-feet retail shopping center named Brea Imperial Center located at the SWC of Imperial Highway and State College. The transaction is valued at $10,501,000 Million.
Christopher E. Maling and David Maling, both Senior Vice Presidents based in Colliers International’s Downtown Los Angeles office, represented the Seller, Trident Pacific Receivership for Midland PNC. The Buyer, Bequer Investments, LLC was represented by Arthur Flores of CB Richard Ellis.
The center is currently operating at approximately 71% occupancy and has a mix of local and national tenants including Carl’s Jr., Active Ride Shop and Bank of the West.
With more than 38 offers, 14 of which were above the listed price.” said Maling “we were able to sell the asset for $1.3 million over the listed price.” added Maling.
“The Maling Team leveraged the Colliers platform coupled with a top tiered marketing strategy which led us to generate multiple offers and close within 75 calendar days with an all cash buyer.” said Maling.
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 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.
Jennifer Hsieh
Regional Marketing Manager | Greater Los Angeles
Dir +1 949 724 5545 | Mobile +1 949 422 6319
Main +1 949 724 5500 | Fax +1 949 724 5600
jennifer.hsieh (at) colliers (dot) com
Colliers International
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www.colliers.com
