Colliers International Completes the Investment Sale of the 66,800-square-foot Multi-Tenant Building for $4.15 Million in Fontana, Calif.
Fontana, CA – March 17, 2011 – (RealEstateRama) — Colliers International, the second largest global real estate services organization, recently completed the investment sale of the 66,800-square-foot multi-tenant project located at 7888 & 7898 Cherry Ave. Fontana, Calif. to a Orange County-based investor, Heritage Business Center Investment Group, LLC. The transaction is valued at $4.15 million.
Rick Nunez, senior associate based in Colliers International’s Inland Empire office and Whit Gifillan, associate also based in Colliers’ Inland Empire office, represented the seller, a Nevada-based developer, Shankle-Law, LLC. The buyer was represented by Windsor Investments.
“Besides its strategic location, one of the greatest advantages of this property is its commercial zoning which allows for a wide range of uses, including commercial activities such as wholesale / retail, distribution and even medical and administrative office uses, “ said Nunez.
Built in 2009 and comprised of 18 condo units, the business park was 50% leased at the time of the sale.
About Colliers International
Colliers International is a global leader in real estate services with more than 15,000 professionals operating out of 480 offices in 61 countries. As a subsidiary of FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U), Colliers offers the stability of a strong financial partner and significant local ownership providing clients with accountability and enterprising real estate solutions. Colliers provides a full range of services to real estate users, owners and investors worldwide including: global corporate solutions; sales and lease brokerage; property and asset management; project management; hotel investment sales and consulting; property valuation and appraisal services; mortgage banking and insightful research. The Lipsey Company and National Real Estate Investor magazine ranked Colliers International as the world’s number two commercial real estate brand.
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.
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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
