Colliers International Directs Retail Sales Totaling $4.23 Million in Southern California
Irvine, CA – December 15, 2010 – (RealEstateRama) — Colliers International, the second largest real estate services organization globally, has directed the sales of three retail properties in Southern California for a combined $4.23 million.
Jereme Snyder, senior vice president, based in Colliers International’s Irvine office, represented the sellers in the following transactions:
- Commonwealth Sevenlen, LLC, a private investor, acquired a 26,455-square-foot, free-standing retail building at 151 E. Valley Blvd. in Colton, Calif., for $1.99 million. Featuring visibility from the 10 freeway, the single-tenant investment property is occupied by Stater Bros. with an absolute NNN lease. Along with Snyder, Bob Hoyt, senior vice president, based in Colliers International’s Irvine office, represented the seller, Vornado Realty Trust. Hai Luong of Tendwell Realty represented the buyer.
- Ramsey Real Estate Group, a private investor, acquired a 10,295-square-foot strip retail pad for $1.15 million, adjacent to a Stater Bros Market at 1717 E. Vista Chino in Palm Springs, Calif. The transaction was the result of a court-ordered, partnership dissolution. Snyder represented both the seller, L&A Associated, LLC and the buyer.
- Olin, LLC, a private investor, acquired a 3,190-square-foot single tenant retail property at 6571 El Cajon Blvd. in San Diego, for $1.09 million. The property is leased to 7-Eleven and is situated within close proximity to San Diego State University. Snyder represented the seller, Summit Realty Advisors, LLC and Pacific Commercial Investments represented the buyer.
“There continues to be an increased demand for well located and stable retail investments in Southern California evidenced by the high volume of activity we received on each of these listings,” said Snyder. “Our team has consistently been able to exceed our clients’ expectations and achieve maximum value for their assets.”
Snyder is the co-founder and director of Colliers NNN Group, a specialized national investment team within Colliers International with more than $1 billion dollars in completed transactions. In 2009, the Colliers NNN Group sold over 100 net leased properties across the country, totaling more than $250 million in transaction volume. The group’s core focus is the acquisition and disposition of net lease investments throughout the United States.
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.
Contact:
Angela Hwang, Regional Marketing Coordinator
Greater Los Angeles, Colliers International
Tel: 213 532 3258
angela.hwang (at) colliers (dot) com
www.colliers.com
