Paramount, CA, July 12, 2012 –– Colliers International, the third largest global real estate services organization, has completed the $2.6 million sale of a 28,600-square-foot multi-tenant industrial building located at 15700-15714 Garfield Ave. and 7515-7524 Madison Street in Paramount, Calif. Chris Sheehan (top right photo) and Adam Deierling (lower left photo)of Colliers International represented the seller, a private trust from Marietta, GA. The buyer was ABR Properties who was represented by Jay Martinez of KW Commercial. The buyer plans to use the facility for wholesale sales and distribution of boots.
Built in 1965, the one-story property includes six units which have historically been occupied by individual companies. The new owner will occupy the majority of the building while renting out a few units for immediate income. It will also have the opportunity to expand into more space in the future.
“We took a multi-tenant project and were able to find the right owner/user in a very specialized corridor in Paramount that is known for the boot and hat trade,” said Sheehan. The highly visible property along Garfield Avenue was exactly what the buyer was looking for, and we were able to garner a strong sale price that could not have been achieved if sold to an investor.”
The City of Paramount is home to a variety of manufacturers and tool wholesalers, in addition to the previously mentioned boot and hat trade. Strategically bound on four sides by the 91, 710, 605 and 105 freeways, this market is highly accessible to the ports and is centrally located to the Southern California market.
Contact:
Darcie Giacchetto
Spaulding Thompson & Associates
949.278.6224
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