Reno, NV, (Jan. 30, 2012) –Voit Real Estate Services has announced that the company is expanding its presence with the addition of a new satellite office in Reno, Nev. to meet growing demand for brokerage and asset services in the market, according to Kevin Sheehan (top left photo), Managing Director of Voit’s Sacramento office.
Sheehan will oversee Voit’s new Reno satellite office, which is located at 5426 Longley Lane in Reno, Nev.
“As part of a strategic growth initiative throughout the company, Voit has doubled its presence in the past two years and put boots on the ground in markets like Phoenix and Sacramento,” said Sheehan. “We are investing in Reno to ensure that our services are fully accessible to our clients in that market.” Contact:
Judith Brower / Jenn Quader
Brower, Miller & Cole
(949) 955-7940
Voit Completes Sale of Commerce Office Park in Commerce, CA
Commerce, CA (Jan. 30, 2012) – Voit Real Estate Services’ Irvine office has successfully completed the sale of Commerce Office Park (middle right photo), a 285,368 square-foot institutional quality office campus located at 4900, 5500, 5700 and 5770 South Eastern Avenue, and 5801 East Slauson Avenue in Commerce, Calif.
This Class A, five-building office property is situated on six separate parcels in the Los Angeles Basin.
Dan Vittone (lower left photo), Senior Vice President, SIOR and Alan Pekarcik (lower right photo), Executive Vice President, SIOR, in Voit’s Irvine office represented the seller, Thompson National Properties on behalf of the tenant-in-common owners of record, and the buyer, Omninet Commerce, LP.
Kevin Shannon, Scott Schumacher and Ken White of CBRE and Tom Sheets of Cushman & Wakefield also represented the seller.
“Commerce Office Park was 90 percent leased at the time of this sale, predominantly to departments of LA County and the State of California,” said Vittone. “This investment offers the buyer the ability to increase rents over time and potentially sell off the 5 buildings individually as they are each situated upon their own parcel.”
The Commerce office submarket is approximately 1.1 million square feet, and has had no speculative office construction since 1991, according to Vittone.
Commerce Office Park is located on the corner of S. Eastern and E. Slauson Avenues, and has access to a number of major Los Angeles freeways including the Long Beach I-710, Santa Ana I-5, SR- 60, San Gabriel I-605 and Century I-105 freeway.
“Commerce Office Park is the newest addition to Omninet Capital’s office portfolio in Los Angeles and ends the 2011 year with over $200 Million in commercial acquisitions,” said Michael Daniel, a Partner at Omninet Capital.
Contact:
Judith Brower
Brower, Miller & Cole
(949) 955-7940
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