VOIT DIRECTS 95,428 SQUARE-FOOT INDUSTRIAL SALE TO LOS ANGELES-BASED COSMETIC MANUFACTURER
COMMERCE, CA – April 10, 2012 – (RealEstateRama) — Voit Real Estate Services has directed the $6 million sale of a 95,428 square-foot industrial property located at 6009-6041 South Malt Ave. in Commerce, Calif., on behalf of the seller. This three-building industrial property will be used as a new branch location for Los Angeles-based cosmetic manufacturer American International Industries, according to Frank Geraci, Executive Vice President in Voit’s Inland Empire office.
Geraci worked with Walt Chenoweth and Juan Gutierrez of Voit’s Inland Empire office, and Brian McLoughlin and David Fults of Voit’s Commerce office to represent the seller, Hill’s Pet Nutrition – a manufacturer of Hill’s Prescription Diet brand pet foods.
“There is strong competition for industrial space in Los Angeles submarkets, and the Voit team drew upon our knowledge of the market to successfully generate more than ten offers from both developers and users on this property,” said Geraci. “By creating this competitive environment, we were able to secure favorable terms for our client, while accelerating the close of escrow, which was beneficial to both parties.”
The property was vacant at the time of this sale, and was being managed by Voit Real Estate Services’ in-house property management team.
“By utilizing Voit’s brokerage and property management services together, our team was able to ensure that the property remained well-maintained and the disposition was smooth. This is an excellent example of how Voit’s fully integrated services can be beneficial to our clients,” Geraci added.
The buyer, American International Industries, is a global manufacturer and distributor of beauty and skin care products for men and women. The company plans to use this location to expand its operations into Commerce. American International Industries was represented by Jack Cline and Jeff Bethel of Lee & Associates in the transaction.
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 brokerage, investment advisory, financial analysis, market research, asset management, tenant advisory and property management 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 50 million square feet of commercial real estate, participated in $1.4 billion of construction projects and completed over $36 billion in brokerage transaction volume. Further information is available at www.voitco.com.
Contact:
Jenn Quader/Judith Brower
Brower, Miller & Cole
(949) 955-7940
JQuader (at) browermillercole (dot) com
