Colliers International Negotiates a 27,985 Square Foot Industrial Property Sale Totaling $2.97 Million in Cerritos, Calif.
Cerritos, CA – January 5, 2012 – (RealEstateRama) — Colliers International, the third largest global real estate services organization, has negotiated an owner/user sale for a 27,985 square foot industrial building located at 16625 Norwalk Blvd., Cerritos, Calif. The transaction is valued at $2,966,410.00 ($106 PSF).
Christopher Sheehan, Senior Vice President and Adam Deierling, Vice President, both based in Colliers International’s South Bay office, represented the Seller and Buyer in this transaction. The seller is a private investor and the Buyer is in the automotive industry.
“This was a perfectly matched Seller and Buyer transaction. The Seller wanted a year-end close and the Buyer needed more space. Both parties worked diligently to get through a number of hurdles that arose during the process we were able to close in a very expeditious manner” said Deierling. There were multiple offers on the property as a result of the aggressive local marketing we applied and as expected, the Buyer came from the immediate area.
Built in 1969, this property is a concrete tilt-up industrial building with an enclosed paved yard including 4,500 square feet of office space. It will be used for warehousing and distribution for automotive operations.
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 consulting, 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.
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
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www.colliers.com
