Friday, December 7, 2012

Colliers International Completes 19,582-SF Office Lease in Los Angeles, CA

9841 Airport Boulevard, Los Angeles, CA
 LOS ANGELES, CA -- Colliers International, the third largest global real estate services organization, has completed one of the largest leases in the Los Angeles LAX submarket, totaling 19,582 square feet at 9841 Airport Boulevard in Los Angeles, Calif.

     Greg Walsh, Vice President, Patrick Grunbok, Associate, and Josh May, Associate Vice President with Colliers International, represented the tenant,, an internet based company from Los Angeles, Calif. The landlord was represented by Geena Oh of Jamison Services.

Gregory Walsh
 “This was one of the largest deals in the 3rd quarter in this submarket,” said Grunbok. The LAX submarket, which suffers from a 37.5% vacancy rate, was boosted by the closing of the Airport Boulevard lease.

Patrick Grunbok
 In October, vacated its former corporate headquarters in Los Angeles and moved into the new space on Airport Boulevard. With this relocation has more than doubled in size, making it one of the fastest growing companies in the area.

     The 15-story, Class A office building TollFreeForwarding now resides in is conveniently located near Century Boulevard, in close proximity to LAX.

Josh May

For more information, please contact Patrick Grunbok.

Rainee Tiske
Marketing Specialist | PR GLA|
 Torrance, CA
Dir +1 310 381 2413
Main +1 310 381 1000

Colliers International
3 Park Plaza, Ste. 1200, Irvine, CA 92614

Waterbury, CT Apartment Building Sells for $3.1 Million and 52K Per Unit

3250 East Main Street Apartments, Waterbury, CT
BRIDGEPORT, CT – Investment sales broker Northeast Private Client Group has announced the sale of 3250 East Main Street, a 60-unit apartment building in the East Farms submarket of Waterbury, CT.

  Bradley Balletto, the firm’s regional manager for southern Connecticut, represented both the seller and the buyer in the $3,130,000 transaction, which closed on November 14.

“High occupancy and rent growth are driving strong demand, especially for multifamily properties,” notes Balletto.  “In today’s still uncertain financial market conditions, income-producing real estate remains one of the best opportunities for generating and preserving wealth.”

Bradley Balletto
 The seller, 3250 East Main LLC of Monsey, NY, purchased the property in 2004 as one of a series of Connecticut acquisitions at the time.  The buyer, FNL Holdings LLC, based in New York, purchased the East Main Street property for a price that equates to $79/SF, which represents a capitalization rate of 8.5 per cent on the current year’s net operating income.

“Going into 2013, the investment sales cycle continues to accelerate and activity remains strong,” explains Edward Jordan, JD, CCIM, the firm’s managing director. “We presently have about two dozen deals under contract in southern New England.  

Edward Jordan
“A robust rental market in many areas gives investors the confidence to move forward on acquisitions, and the increased competition for these assets is beneficial to our sellers as well.”

Founded in 2010 by Edward Jordan, Northeast Private Client Group supports real estate investors with offices in New York, Connecticut and Massachusetts. 

The firm specializes in representing owners of income producing properties, and supporting those who invest and sell property in the commercial and multifamily sectors across a region that stretches from New York to Boston.

 Jordan holds the Certified Commercial Investment Member (CCIM) designation and currently serves on the board of directors of the Connecticut chapter of CCIM.


Rick Leonard