Two Lee & Associates Offices Team Up for $8.5 Million Industrial Deal

-
By The Hoyt Organization -

Torrance, CA – February 23, 2011 – (RealEstateRama) — Lee & Associates, the nation’s largest broker-owned commercial real estate services firm, represented both the buyer and the seller in the $8.5 million sale of a 189,990-square foot industrial property at 13780 Central Ave., in Chino, Calif.

Executive VP Bill Heim and Vice President Eloy Covarrubius out of Lee & Associates’ Ontario office represented buyer DCT Industrial. Senior VP Jack Cline, Vice President Patrick Bogan and Vice President Steve Coulter of Lee’s City of Industry office teamed to represent seller Gamm Enterprises in the transaction.

“This transaction shows how two separate Lee & Associates offices can pair up to find the best buyer and seller for any particular asset,” Cline said. “The end result in this case bodes well for both parties, including the buyer, which plans on renovating the property and putting it back on the market to lease out.”

Added Covarrubius: “Historically, Chino has had low vacancy rates and the barrier-to-entry has been exceptionally difficult. This is a great investment for DCT Industrial, based on that fact, plus the asset’s location and the functionality of the building with rail service.”

Dan Floriani, who is in charge of leasing and acquisitions for DCT’s Southern California office, led the Buyer’s efforts to acquire the property.   The single-building property was built in 1988. It is located near the 60 and 71 freeways, as well as the Chino Airport, in the heart of Southern California’s Inland Empire.

About Lee & Associates
Celebrating more than 32 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 42 locations across the nation including California, Arizona, Indiana, Georgia, Idaho, Illinois, Michigan, Missouri, New Jersey, Nevada, Texas and Wisconsin. With a roster of more than 600 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.

SHARE
Avatar
The Hoyt Organization
http://hoytorg.com/

Ranked as one of the top 25 public relations firms in Los Angeles by the Los Angeles Business Journal, The Hoyt Organization is a full-service, strategic communications firm that provides complete public relations counseling and crisis communication services. With more than two decades of experience, the firm specializes in developing public relations, social media and digital marketing programs for business-to-business, real estate, professional service firms, financial entities, healthcare organizations, as well as retail, legal, technology and business-to-consumer-based companies.

Contact:

Phone: 310-373-0103

RELATED ARTICLESMORE FROM AUTHOR

Previous articleGARY HUNT JOINS BOARD OF DIRECTORS FOR CT REALTY INVESTORS
Next articleLee & Associates-Investment Services Group Transacts 3-Building Multifamily Sale