donedeals-3: Colliers International Closes 3 Deals in California; 1 in Tennessee

Thibiant International Leases 217,929 Square Feet of Industrial Space Totaling $8.48 million in Chatsworth, CA

LOS ANGELES, CA, Jan. 31, 2011 – Colliers International, the second largest global real estate services organization, has negotiated four industrial leases totaling 217,929 square feet.

The total combined value of the leases is approximately $8.5 million. Colliers represented the tenant, Thibiant International, a Chatsworth-based cosmetics company in the transactions. The leases represent renewals for three of Thibiant’s current facilities and an expansion into a 62,400 square-foot warehouse.

John DeGrinis (top right photo), SIOR, executive vice president, Patrick DuRoss (top left photo), associate vice president, and Jeff Abraham, associate, all of TEAM DeGRINIS, based in Colliers International’s Encino office, represented the tenant.

Thibiant’s existing landlord, ParRam, LLC, an Encino-based private investment company, represented themselves. Gordon Mace and Joshua Linn of Beitler Commercial represented the landlord, MSF Estrella Property Co., a Beverly Hills-based private investment company for the fourth facility.

Thibiant has a fairly complex operation that incorporates R&D, manufacturing and distribution of cosmetic products.

“We’ve worked with Thibiant for many years and have learned a lot about their flow of operations,” said DeGrinis. “Over 18 months ago, we really started to analyze Thibiant’s processes so we could see if there were facility alternatives that would enhance the flow and efficiency of their operation and ultimately reduce overall operating costs.”

“Over the past year, we’ve explored multiple options including a consolidation plan to relocate into a single building. We searched nearby, in other submarkets, and found a couple of off-market facility alternatives,” continued DuRoss.

“After exploring all of these options, Thibiant determined that the best alternative was to move from a 300,000 square foot footprint in five buildings to a 217,929 square foot footprint in four buildings. Thibiant will remain in three of its existing facilities, and replace two with another nearby facility that was more efficient and cost effective.”

Thibiant’s operating costs were reduced significantly as a result of finding a more efficient footprint and eliminating wasted space.

TEAM DeGRINIS is a specialized group within Colliers International that provides consulting on industrial and R&D real estate requirements in the Ventura County and San Fernando Valley.

With a combined 40 years of experience in the commercial real estate industry, TEAM DeGRINIS is a leader in sharing strategic local market insight and has completed more than $425 million in transactions over the past five years.

For more information, visit www.colliersmn.com/teamdegrinis
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Colliers International Completes the Sale of 29,681-Squre-Foot Office Building for $2.575 Million in Placentia, CA

PLACENTIA, CA, Jan. 31, 2011 – Colliers International, the second largest global real estate services organization, has completed the sale of a 29,681-square-foot three-story office building located at 774 Placentia Ave., Placentia, Calif. to Interface Rehab, Inc. The transaction is valued at $2.575 million.

The seller, Kenyon Placentia Inc. a Playa Del Rey-based investment firm was represented by Clyde Stauff (middle right photo), SIOR, executive vice president in Colliers International’s Irvine office.

“This property will be used as an office for the new tenant who provides comprehensive rehabilitation and consultation services to patients throughout Southern California,” said Stauff.

“Interface Rehab will continue to grow the business in the larger, new building, which will undergo an interior remodel. The building was previously occupied by McMullen Argus Publishing, Inc., a publisher for popular magazines, such as Hot Rod, for more than ten years.”

Colliers International Completes $2.383 Million Sale of an Industrial Building in Westlake Village, Calif.

WESTLAKE VILLAGE, CA, Jan. 31, 2011. – Colliers International, the second largest global real estate services organization, has completed the sale of an industrial building located at 3580 Willow Lane, Westlake Village, Calif. to Johnston Plumbing, a plumbing equipment company based in Ventura, Calif. The transaction is valued at $2.383 million.

Built in 1994, the property offers 16,144 square feet of space and is close to the 101 freeway.

The seller, a Santa Barbara-based family trust, was represented by Chris Itule (middle left photo), senior associate, based in Colliers International’s Encino, Calif. office and Jeff Albee (lower right photo), Senior Vice President, also based in Colliers International’s Encino Calif. office.

The buyers, Garry and Linda Fishman of Johnston Plumbing were represented by Tony Principe, president of Westoaks Commercial Group.

“We were able to acquire strong price per foot for this property in this market,” said Itule. “This property is ideal for the buyers’ business and offers abundant space for them to build out.”

Colliers International Completes $1.17 Million Sale of KFC/ Taco Bell Building in Lake City, Tenn.

LAKE CITY, TN, Jan. 31, 2011. – Colliers International, the second largest global real estate services organization, has completed the sale of a 4,608-square-foot retail building located at 117 Colonia Lane in Lake City, Tenn. to Oak Park, Calif.-based Calvert Family Trust, a private investor. The transaction is valued at $1,175,000.

Built in 1980, the freestanding, retail building was renovated in 2006 and is leased to KFC/Taco Bell. Situated on 0.89 acres of land, the building is located just minutes from downtown Lake City and a half hour from Knoxville, Tenn.

“Our client needed to exchange out of an industrial asset into a more stabilized property that provided a secure return on investment. After selling their previous asset to an industrial owner/user, we located this this property for our client.

“ This stabilized asset offered the security and ease of management they were seeking,” said Jeff Albee, senior vice president in Colliers International’s Encino office, who represented the buyer in the transaction, along with Jeff Gould (lower left photo), senior associate in Colliers International’s Encino office.