Tuesday, May 17, 2011
Colliers International Completes Sale of 78,021-SF Industrial Property for $3.9 Million in Chino, CA
Brad Yates, vice president, and Richard Schwartz, vice president, based in Colliers International’s Inland Empire office represented the buyer. The seller, MRC Properties, LLC, was represented by Larry Null and Douglas Earnhart of Lee & Associates.
“Shield Packaging has been out in the market for several years in search of another facility for overflow storage of existing product,” said Yates. “Richard and I brought the Schaefer building to Shield late last year and discussed an opportunity to move their storage requirement to the Schaefer facility.”
“With several offers in play, Shield was willing to make a full price offer on the property. The seller accepted the offer, and we were able to successfully close escrow in under 90-days,” added Schwartz.
Built in the 1970s, the property is an older metal building with 78,021-square-feet of industrial space and 5,622-square-feet of office space. It offers seven ground level doors, two dock high doors with 2,000 Amps of Power, 20’clear height, and 5.5 acre parcel size.
Colliers International Negotiates 82,080-SF Industrial Lease in Santa Fe Springs, CA
May 17, 2011 Santa Fe Springs, Calif. – Colliers International, the second largest global real estate services organization, recently negotiated a 45 month 82,080-square-feet industrial lease located at 12991 Leffingwell, Santa Fe Springs, Calif. The transaction is valued at $1.9 million.
The property was built in 2000 and will be used as a distribution center for light assembly and manufacturing by the new tenant.
Clyde Stauff, SIOR, senior executive vice president based in Colliers International’s Irvine, Calif. office and Stephen C. Calhoun, SIOR, senior executive vice president based in Colliers Commerce, Calif. office represented the landlord, Golden Springs Development Company. The tenant, Hydrofarm, Inc., a manufacturer/distributor of hydroponics equipment and grow lights based in Petaluma, Calif. was represented by Steve Sprenger and Randy Lockwood of Grubb & Ellis.
“One of the key elements in Hydrofarm’s decision to lease space in Golden Springs was the high hazard, ESFR sprinkler system and 32’ minimum ceiling clearance which allowed for high pile storage to 30’. The 5.3 million square foot Golden Springs project includes such tenants as Amway, Thyssen Krupp, and HD Supply (a division of Home Depot)” said Stauff.
Angela S. Hwang
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