Thursday, March 31, 2011
Colliers International Negotiates Five-Year Lease for a 155,992-SF Industrial Building Valued at $3.1 million in City of Industry, CA
CITY OF INDUSTRY, CA, Mar. 31, 2011. – Colliers International, the second largest global real estate services organization, recently negotiated a five-year lease for a 155,992-square-foot industrial building located at 14255-14317 Lomitas Ave (top left photo), City of Industry, Calif. The transaction is valued at $3.1 million.
Built in 2001, the property offers state-of-the-art building features including 30’ minimum ceiling clearance and a secured concrete yard.
It will be used as a warehouse by the new tenant. Steve Bellitti, senior executive vice president, Tom Taylor, senior executive vice president, and Tony Phu, executive vice president, all based in Colliers International’s Inland Empire office represented the landlord, Lomitas LP, a Orange County-based investor. The tenant, HOT Services, was represented by IDS Real Estate Group.
“This is one of the few deals done greater than 100,000 SF size range in Industry this year. By tracking movement in the market, Colliers brokers were able to identify the potential tenant whose building recently sold,” said Phu. “By working with the tenant's broker, Colliers was able to introduce the prospective tenant to the building and consummate a deal.”
.Contact: Angela S. Hwang
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