Colliers International Represents Thibiant International in Leasing 217,929-square-foot of Industrial Space Totaling $8.48 million in Chatsworth, Calif.
Los Angeles, CA – January 31, 2011 – (RealEstateRama) — Colliers International, the second largest global real estate services organization, has negotiated four industrial leases totaling 217,929 square feet. The total combined value of the leases is approximately $8.5 million. Colliers represented the tenant, Thibiant International, a Chatsworth-based cosmetics company in the transactions. The leases represent renewals for three of Thibiant’s current facilities and an expansion into a 62,400 square-foot warehouse.
John DeGrinis, SIOR, executive vice president, Patrick DuRoss, associate vice president, and Jeff Abraham, associate, all of TEAM DeGRINIS, based in Colliers International’s Encino office, represented the tenant. Thibiant’s existing landlord, ParRam, LLC, an Encino-based private investment company, represented themselves. Gordon Mace and Joshua Linn of Beitler Commercial represented the landlord, MSF Estrella Property Co., a Beverly Hills-based private investment company for the fourth facility.
Thibiant has a fairly complex operation that incorporates R&D, manufacturing and distribution of cosmetic products. “We’ve worked with Thibiant for many years and have learned a lot about their flow of operations,” said DeGrinis. “Over 18 months ago, we really started to analyze Thibiant’s processes so we could see if there were facility alternatives that would enhance the flow and efficiency of their operation and ultimately reduce overall operating costs.”
“Over the past year, we’ve explored multiple options including a consolidation plan to relocate into a single building. We searched nearby, in other submarkets, and found a couple of off-market facility alternatives,” continued DuRoss. “After exploring all of these options, Thibiant determined that the best alternative was to move from a 300,000 square foot footprint in five buildings to a 217,929 square foot footprint in four buildings. Thibiant will remain in three of its existing facilities, and replace two with another nearby facility that was more efficient and cost effective.”
Thibiant’s operating costs were reduced significantly as a result of finding a more efficient footprint and eliminating wasted space.
TEAM DeGRINIS is a specialized group within Colliers International that provides consulting on industrial and R&D real estate requirements in the Ventura County and San Fernando Valley. With a combined 40 years of experience in the commercial real estate industry, TEAM DeGRINIS is a leader in sharing strategic local market insight and has completed more than $425 million in transactions over the past five years. For more information, visit www.colliersmn.com/teamdegrinis.
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