BREA, CA. – Colliers International, the second largest global real estate services organization, has completed the sale of a 45,560-square-feet industrial property located at 1425 Moonstone Street, Brea Calif. The transaction is valued at $4.055 million.
Ian Britton (top right photo), Senior Vice President, and John Long (middle left photo), Associate, both based in Colliers’ Orange County office along with Tom Dorman of CBRE represented the Seller, PSIP CAM Brea LLC, an affiliate entity of Los Angeles-based Cohen Asset Management, Inc..
The Buyer,Harmony Properties, LLC, was represented by Luke Hudson of Lee & Associates in Orange.
“Attractive SBA financing, strong user demand and a lack of quality inventory available for sale has contributed to the overall success of the project,” said Britton. “Brea has the unique ability to draw industrial users from North Orange County, Mid Counties as well as the City of Industry.”
This sale marks the 3rd transaction completed this year within the newly branded “Brea Canyon Commerce Center”, a six (6) building project recently purchased by Cohen Asset Management’s affiliate.
The properties range in size from 19,779 SF to 70,492 SF and were previously owned and occupied by Simpson Manufacturing. The ownership has reconditioned the buildings and recently adjusted the lot lines to create large fenced yard areas for industrial users.
Other upgrades include new modern landscape, new exterior and interior paint, resurfaced parking areas, modern architectural treatments and new office fixtures. The buildings have appeal to a wide range of industrial users due to the attractive M2 zoning, heavy power, functional loading and business park setting.
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Contact:
Angela S. Hwang
Regional Marketing Coordinator | Greater Los Angeles
Dir +1 213 532 3258 | Mob +1 310 867 4105
Main +1 213 627 1214 | Fax +1 213 327 3258
Colliers International
865 S Figueroa St., Suite 3500 | Los Angeles, CA 90017 | USA
www.colliers.com
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