CERRITOS, CA, Jan. 5, 2012 -- Colliers International, the third largest global real estate services organization, has negotiated an owner/user sale for a 27,985 square foot industrial building located at 16625 Norwalk Blvd., Cerritos, Calif. (top left photo).
The transaction is valued at $2,966,410.00 ($106 PSF).
Christopher Sheehan (middle right photo), Senior Vice President and Adam Deierling (lower left photo), Vice President, both based in Colliers International’s South Bay office, represented the Seller and Buyer in this transaction. The seller is a private investor and the Buyer is in the automotive industry.
“This was a perfectly matched Seller and Buyer transaction,” said Deierling. “The Seller wanted a year-end close and the Buyer needed more space.
“ Both parties worked diligently to get through a number of hurdles that arose during the process we were able to close in a very expeditious manner. There were multiple offers on the property as a result of the aggressive local marketing we applied and as expected, the Buyer came from the immediate area.”
Built in 1969, this property is a concrete tilt-up industrial building with an enclosed paved yard including 4,500 square feet of office space. It will be used for warehousing and distribution for automotive operations.
Contact:
Angela S. Hwang
Regional Marketing Coordinator | Greater Los Angeles
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Colliers International
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