Colliers International Negotiates Three Industrial Deals Totaling $13.75 Million in Greater Los Angeles
Los Angeles, CA – May 13, 2011 – (RealEstateRama) — Colliers International, the second largest global real estate services organization, has negotiated two industrial leases and an industrial sale totaling $13.75 million in the Mid-Counties Market in Greater Los Angeles. Chris Sheehan, SIOR, senior vice president, and Adam Deierling, vice president, based in Colliers International’s Torrance office represented tenants and user in all three transactions.
· The first transaction, an industrial property located at 13226 Alondra Blvd., Cerritos, Calif., is valued at $10.56 million. Built in 1981, this 128,000-square-feet industrial property will be used as a distribution and light manufacturing center by the new buyer who will also build 4,000-square-feet of new office space. The seller, Scope Properties, LLC, was represented by Ted Carpenter of Carpenter & Associates. Deierling and Sheehan represented the buyer, Achem Industry America, Inc.
· The second transaction was a five-year lease for a total of $2.214 million in consideration for a 102,576-square-feet industrial property located at 13930 – 13950 Mica St., Santa Fe Springs, Calif. Prologis California LLC was the landlord in this deal. Sheehan and Deierling along with Phil Norton, senior vice president, based in Colliers’ Commerce office represented the tenant, Capitol Distribution, a Santa Fe Springs-based bulk food distribution company. This property was built in 1980 and will be used as warehousing and distribution center for bulk food by the new tenant.
· Lastly, Deierling and Sheehan along with Josh Hayes, vice president based in Colliers’ Ontario office, negotiated a 50-month lease for a property located at 14659 Alondra Blvd., La Mirada, Calif. for the tenant, Royal Sugar, LLC, a New Jersey-based food distribution company. The transaction is valued at $942,824. Prologis California LLC was once again the landlord in the deal. This property was built in 1970 and will be used as a processing and distribution center of sugar by the new tenant.
“These deals demonstrate the active owner/user demand prevalent in the market today,” said Deierling.
“We are seeing more confidence from tenants and owners/users in the marketplace willing to commit to longer term leases and purchase,” added Sheehan.
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.
For further information please contact:
Angela Hwang, Regional Marketing Coordinator
Greater Los Angeles, Colliers International
Tel: 213 532 3258
angela.hwang (at) colliers (dot) com
www.colliers.com
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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
