Wednesday, April 13, 2011

Colliers International Completes the 9,219-SF Retail Sale Valued at $1.750 Million in San Clemente, CA

TORRANCE, CA– Colliers International, the second largest global real estate services organization, has completed the sale of a 9,219-square-feet multi-tenant retail property located at 1011 - 1041 Avenida Pico, San Clemente, Calif.. The transaction is valued at $1.750 million. 

 This retail center was built in 2005 is part of the Courtyards at Talega (top left photo), a 35,000-square-feet community shopping center, located in the upscale community of San Clemente.

 Ian Schroder and Maurice Nieman, vice presidents, based in Colliers International’s Irvine office, represented both the seller, JP Morgan Chase, and the buyer, SVN Equities, an investment management company.

 “We had worked with the former owner prior to foreclosure on selling this Center and worked on various leasing assignments. Unfortunately the poor economy, high vacancies and tenant turnover caused the property into foreclosure,” said Nieman.

“As a bank-owned property, we found a great local buyer who we believe will be able revitalize and re-lease this 50% vacant center and realize its true potential,” added Schroeder.

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

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