Colliers International Sells Two Properties for $2.425 Million in Los Angeles
Los Angeles, CA – December 1, 2011 – (RealEstateRama) — Colliers International, the third largest global real estate services organization, has completed two property sales in Los Angeles totaling $2,425,000.
Tony Phu, Senior Vice President, and Jeffrey Kim, Associate, both based in Colliers International’s Ontario office represented the Seller in both transactions.
· The first property is located at 311 – 321 E. 4th St., Los Angeles. The total square footage equals 11,400, and the transaction is valued at $1.6 million. The building is a six-unit retail property with one restroom with a ground level loading door each. It is an ideal retail storefront for toys, gifts, and flowers, and is situated in the Toy District in Downtown Los Angeles. The Buyer is 311 E 4th Street Partners.
· The second property is located at 332 Omar St., Los Angeles. This 13,720-square-foot parking lot was sold for $825,000. The Buyer is Susan Mizuki.
“These two properties were divestiture of investment properties by the same owner,” said Phu. “The Owner has had these properties since 1920s, and it was their first time on the market.”
“Both transactions set market value in Little Tokyo area in Downtown Los Angeles,” added Kim.
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.
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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
