VOIT COMPLETES TWO INDUSTRIAL OWNER/USER SALES ENCOMPASSING 48,000 SQUARE FEET IN GREATER LOS ANGELES
Los Angeles, CA – December 19, 2011 – (RealEstateRama) — Voit Real Estate Services’ Anaheim office has completed two industrial property sales encompassing 47,620 square feet for a total consideration of $4.8 million in Greater Los Angeles.
Transaction #1
Cameron Driscoll and Luke McDaniel, both Senior Vice Presidents in Voit’s Anaheim office, completed the $2.7 million sale of a 28,300 square-foot, free-standing industrial building located at 16000 Phoebe Avenue in La Mirada, Calif. Voit’s Driscoll and McDaniel represented the seller, InSite Realty Advisors.
“This property was originally listed for lease, however, the Voit team knew there was stronger activity in the sale market, so we advised our client to shift the focus to buyers in the region,” said Driscoll. “As a result, we were successful in achieving a sale price at the higher end of the market on behalf of the seller.”
The buyer, Evergreen Packaging, acquired the space to expand its operations, while adding additional machinery. Evergreen Packaging was represented Grubb & Ellis in the transaction.
Transaction #2
Voit’s Anaheim office also completed the $2.1 million sale of a 19,320 square-foot, free-standing, single occupant industrial building located at 9046 Sorensen Ave. in Santa Fe Springs, Calif. Voit’s Cameron Driscoll and Luke McDaniel represented the seller, Kearny Real Estate Company.
“In this REO sale, Voit was able to quickly identify a qualified buyer that closed the deal in a timely manner, and without any re-trades,” stated Driscoll.
The buyer, Steven Label, is a printing company that plans to use the space as its headquarters. Steven Label was represented by Lee and Associates.
About Voit Real Estate Services
Voit Real Estate Services is now a 10 office commercial real estate firm that, through its brokerage and asset services professionals working together, provides strategic property solutions tailored to clients’ needs. Combining 40 years of expertise in property management, investment advisory, financial analysis, market research, asset management, tenant advisory and brokerage services, Voit provides clients with forward looking strategies that create value for their assets and portfolios.
Voit is a privately held, debt-free firm that has successfully navigated numerous market cycles since 1971 and currently employs more than 250 people. Voit has owned, developed and managed over 45 million square feet of commercial real estate, participated in $1.35 billion of construction projects and completed over $33 billion in brokerage transaction volume. Further information is available at www.voitco.com.
Contact:
Judith Brower
Brower, Miller & Cole
(949) 955-7940
JBrower (at) browermillercole (dot) com
