City of Industry, CA – March 31, 2011 – (RealEstateRama) — Colliers International, the second largest global real estate services organization, recently negotiated a five-year lease for a 155,992-square-foot industrial building located at 14255-14317 Lomitas Ave, City of Industry, Calif. The transaction is valued at $3.1 million.
Built in 2001, the property offers state-of-the-art building features including 30’ minimum ceiling clearance and a secured concrete yard. It will be used as a warehouse by the new tenant. Steve Bellitti, senior executive vice president, Tom Taylor, senior executive vice president, and Tony Phu, executive vice president, all based in Colliers International’s Inland Empire office represented the landlord, Lomitas LP, a Orange County-based investor. The tenant, HOT Services, was represented by IDS Real Estate Group.
“This is one of the few deals done greater than 100,000 SF size range in Industry this year. By tracking movement in the market, Colliers brokers were able to identify the potential tenant whose building recently sold,” said Phu. “By working with the tenant’s broker, Colliers was able to introduce the prospective tenant to the building and consummate a deal.”
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.
Angela S. Hwang
Regional Marketing Coordinator | Greater Los Angeles
Dir +1 213 532 3258 | Mob +1 310 867 4105
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angela.hwang (at) colliers (dot) com
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