Tuesday, November 8, 2011

Colliers International Completes 86,000-SF Industrial Property Sale for $7.74 Million in Vernon, CA and $2.2 Million Deal in La Mirada, CA



VERNON, CA, Nov. 8, 2011. – Colliers International, the third largest global real estate services organization, has completed a 86,000-square-feet industrial property sale located at 2301-2303 E. 55th St., Vernon, Calif. (top left photo) The transaction is valued at $7.74 million.

 Thomas A. Condon, Senior Vice President, based in Colliers International’s Commerce office represented the Seller, 55th Street Property LLC. The Buyer, J&H Textile Inc., was represented by Steve Kim of Magic Properties.

  Built in 1972, the property is well-located on the Westside of Vernon with easy access to Downtown Los Angeles.

 “Speculative development of larger buildings has been limited in Vernon over the past decade due to legislation along with the City purchasing shuttered manufacturing sites in an effort to lure heavy power/manufacturing users to the City,” said Condon.

 “The sale price of $90.00/SF is a testament to the value users place on being located in the business friendly City of Vernon which also offers lower utility rates and no gross receipts tax.”
  

Colliers International Negotiates 119,336-Square-Feet Industrial Property Lease in La Mirada, CA


LA MIRADA, CA, Nov. 8, 2011. – Colliers International, the third largest global real estate services organization, has negotiated a 61-month lease for an industrial property located at 16000 Heron Ave., La Mirada, Calif. (lower left photo) The transaction is valued at $2,227,400.

 Stephen C. Calhoun, SIOR, Senior Executive Vice President, and Matthew M. Erickson, Associate, based in Colliers International’s Commerce office represented the Tenant, Dzinesquare, Inc., a La Mirada, Calif.-based company that designs and distributes auto wheels and accessories.

The Landlord, Oro May Broward Investment Co., a real estate investment company, was represented by Mike Tsaparian and Peter Bacci of Lee & Associates.

 “Dzinesquare, Inc. has seen significant growth and expansion in the last few years, and this new location is ideal for their continued growth,” said Calhoun.

 Built in 1968, this industrial building is set up for warehousing and distribution.

 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
  Follow us at www.twitter.com/colliersgla.

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