Colliers International Completes the Sale of 29,681-Squre-Foot Office Building for $2,575 Million in Placentia, Calif.
Placentia, CA – January 31, 2011 – (RealEstateRama) — Colliers International, the second largest global real estate services organization, has completed the sale of a 29,681-square-foot three-story office building located at 774 Placentia Ave., Placentia, Calif. to Interface Rehab, Inc. The transaction is valued at $2,575 million.
The seller, Kenyon Placentia Inc. a Playa Del Rey-based investment firm was represented by Clyde Stauff, SIOR, executive vice president in Colliers International’s Irvine office.
“This property will be used as an office for the new tenant who provides comprehensive rehabilitation and consultation services to patients throughout Southern California,” said Stauff. “Interface Rehab will continue to grow the business in the larger, new building, which will undergo an interior remodel. The building was previously occupied by McMullen Argus Publishing, Inc., a publisher for popular magazines, such as Hot Rod, for more than ten years.”
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