Colliers International Sells $12.1 Million Property in Huntington Beach, Calif.
Huntington Beach, CA – November 16, 2011 – (RealEstateRama) — Colliers International, the third largest global real estate services organization, has completed the sale of a 121,300-square-feet property located at 7391 Heil Ave., Huntington Beach, Calif. The transaction is valued at approximately $12.1 million.
Wayne Lambert, Senior Vice President, based in Colliers International’s Irvine office represented both the Buyer, CenterPoint Properties, and the Seller, Morgan Holdings, LLC.
The facility is occupied by three high quality tenants: Red Bull North America, WM Pack Rat, and Olukai. This refurbished building with 26’ ceiling clearance and high hazard fire sprinklers is in a desirable Huntington Beach location within the West Orange County submarket with only a 3.6% total vacancy rate.
“CenterPoint Properties has been active in their efforts to purchase Southern California industrial properties for three years and this is their first Orange County acquisition,” said Lambert. “It was a pleasure working with CenterPoint Properties on this transaction; they performed as agreed, completing their due diligence and closing within short time frames.”
“Finding a building in Orange County where the majority of tenants are linked to the L.A. Ports in a functional distribution facility was no small task,” added Jim Linn, Senior Vice President of CenterPoint Properties. “We are grateful for Wayne’s hard work in finding this investment and for his professionalism with respect to the ultimate acquisition.”
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 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
865 S Figueroa St., Suite 3500 | Los Angeles, CA 90017 | USA
www.colliers.com
